News You Need To Know on Dec. 29, 2022

Look back at 2022

When the Federal Reserve picked up interest rates aggressively to cool inflation this year, we also became more expensive to buy things such as cars and houses. High rates affected anyone wishing to sell the house, as the value of the house equity for many household owners decreased.

In November, the hostage rates that have reached a two -decade altitude, the sky touching a hot housing market, has been thrown cold water, which saw 42% shooting in prices as the epidemic had become less affordable for many potential buyers since the onset of the epidemic.

The decline in strength has forced many people to homebukes out of the market, reduced sales and hurt prices. Some housing economists estimate only a slight price reduction next year, while others see an accident.

What does it mean if you want to buy a house? Light may occur at the end of the tunnel – at least when it comes to home prices. Depending on how high rates to fight inflation, the Federal Reserve can send high mortgage rates to the house prices even less.

If you can wait, it can mean great savings. But if you are waiting for the prices of the house, then you must be waiting for a little late (and perhaps, even forever) to fall to the same level before the epidemic.