. While the Fed’s current plans are largely priced into the mortgage market which takes a very long-term view, it suggests that mortgage costs may remain elevated for some time. In fact, Fed Chair Jerome Powell said he viewed the U.S. housing market asIt is also important to remember that housing in the U.S. is a regional market.
However, so far in many regions house prices have only given back some of the recent games from 2022 and have not yet declined in absolute terms on a year-on-year basis. 2023 may change that if current sluggishness in the housing market continues. However, the chance of a recession matters too, if people lose their jobs that can, in turn impact the housing market. There’s some positive news there, because so far the jobs market has remained more robust than most expected. However, the backdrop for house price trends in 2023 appears relatively negative.
Yeah, because Forbes has a great track record on this. lol