Bit of news this week.
The ICE stated 1 of 3 things need to happen in order for the housing market to return back to affordability levels.
1. 30 year fixed mortgage rates drop down 4.4%
2. Median household income needs to increase by 62%
3. Home prices need to drop 38%
If you are renting, better get used to renting. If you own house, get used to that house. None of these 3 things will happen anytime soon.