Fed's rate hikes hammer housing affordability

Posted on AllSides August 17th, 2022
From The Center
Illustration: Annelise Capossela/Axios

The Federal Reserve has hit the brakes on the economy, in an attempt to slow inflation. Housing is where the rubber meets the road,

Why it matters: Since the pandemic, the hot housing market — and associated boomlets in renovations and new construction — have been key contributors to the post-COVID economic recovery. That's changing.

Driving the news: The number of newly started homes plunged in July.

Starts of single-family homes fell 10% from the prior month, hitting their lowest point since June 2020 near the depths of COVID-era uncertainty.

How it works: Fed...

Read full story

Axios

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
108329/84984
See full bias rating for Axios
Learn about media bias
https://www.axios.com/2022/08/17/feds-rate-hikes-housing-affordability

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right