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Latest in Housing & Zoning Policy· Oct 22

Mortgage rates near 7.3% are forcing sellers to cut prices regionally as higher borrowing costs destroy affordability for buyers. The median renter now needs 16 years to save a down payment, up from prior years as home prices and down-payment requirements have outpaced wage growth. Together these dynamics are collapsing demand at the entry-level segment where homebuilders traditionally drive volume growth and where younger cohorts generate mortgage origination velocity. Fed policy transmits through bond yields to mortgage rates to housing demand and asset valuations in a direct chain.