Higher #MortgageRates could widen that gap even further, making it harder for many households; wealthier buyers & investors are more likely to pay in cash.

The geopolitical tensions driving #energy prices higher are also complicating the outlook for #InterestRates. Expectations that the #FederalReserve might begin cutting rates have faded as #markets worry #inflation could stay higher for longer than anticipated.

#WealthDivide #inequity #economy #affordability #CostOfLiving #housing #Trump

The #housing #market has been stuck since the #pandemic. Record-low #InterestRates during that period kicked off a buying frenzy that sent home prices soaring. Millions of homeowners refinanced #mortgages at those low rates—many below 4 or 5%—leaving them reluctant to sell & take on a new mortgage when rates rose.

A recent NYT/Siena poll found that a majority of Americans feel homeownership is out of reach. As a result, about 1 in 4 Americans are delaying major purchases like buying a home….