When Will the Housing Boom End?
The housing boom will end in 2022, at least that’s what economist Bill Conerly says. What will put an end to the frenzy will be an increase in mortgage rates, he writes, because mortgage rates have been the key to the buying boom. Low mortgage rates helped lower monthly mortgage payments by 12%, which enabled many to purchase a home sooner. A shift in desired housing types also plays a big factor in the housing boom. More buyers needed more space, often meaning Americans needed out of their apartments and into larger single-family homes.www.probuilder.com