When Will The "Lock In" Effect End?

In this episode of Deerwood Realty, John explores the "housing market lock-in effect" and its far-reaching impacts on both current homeowners and aspiring buyers. According to Bank of America economists, the housing market will remain "stuck" until at least 2026, with home affordability unlikely to improve without a recession. We'll delve into the factors driving this phenomenon, from the pandemic-driven surge in housing demand to the ongoing challenges of high mortgage rates. Join us for a comprehensive analysis and practical advice for navigating these unprecedented times in real estate.

#HousingMarket2023
#MortgageLockIn
#RealEstateChallenges

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