US house prices likely to drop as rates rise, Capital Economics says
US house prices likely to drop as rates rise, Capital Economics says
By Ari Altstedter | Bloomberg
US house prices are likely to fall as mortgage rates exceeding 6% crimp affordability for the average buyer, according to Capital Economics.
Property prices could contract an annual 5% by the middle of next year, Matthew Pointon, senior property economist, said in a research note Monday. He’d previously projected no change in values by that time.
An average household…
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