LA real estate
fromFast Company
1 month agoHousing market affordability is so stretched that home turnover hits a 40-year low
Existing-home sales in the U.S. are at a historic low due to affordability issues and demographic changes.
Today's housing market is highly constrained because of increased population and households.
Homeowners are reluctant to sell homes due to unfavorable current mortgage rates.
Deteriorating affordability is leading to significant reductions in home sales.