Part 8/16:
Limited Supply: Construction delays and inventory shortages keep prices high.
Government Support & Stimulus: Programs like mortgage forbearance, stimulus checks, and low interest rates have bolstered buyers' ability to purchase homes.
Investor Activity: Low mortgage rates and rising home values attract investors, further pushing prices up.
Risks and Red Flags
- Affordability Crisis: Wages have not kept pace with home prices. As of now, wages are only growing at around 3%, while home prices surged over 15%, making homeownership increasingly out of reach for many.