6 - The Housing Market Is NOT Affordable As Rates Hit The 5’s

Despite a recent drop in mortgage interest rates to 5.99%, the cost of owning a home remains unaffordable for many individuals. Although a lower interest rate can make a mortgage more manageable, it does not necessarily equate to lower home prices. The housing market is influenced by a variety of factors, including supply and demand, local economies, and government policies, all of which can drive up home prices and make it difficult for people to purchase a home even with attractive interest rates. This situation highlights the ongoing struggle for many people to find affordable housing and the need for a comprehensive solution to address the root causes of the affordability crisis.