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Powell warns of a correction in the once ‘red-hot’ housing market
Source: Boston --- Federal Reserve Chair Jerome Powell warned that the US housing market is likely to suffer a reversal in the wake of policymakers’ interest-rate hikes. “We’ve had a time of a red-hot housing market all over the country,” Powell said in a press...
US ‘housing recession’ could send prices 20% lower by mid-2023: economist
Source: New York Post --- US home prices are now “clearly falling” and could plummet by as much as 20% by mid-2023 as the Fed continues its aggressive push to hike interest rates, according to a prominent economist. Ian Shepherdson, the chief economist at Pantheon...
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Skilled labor is returning to homebuilding
Source: Housing Wire --- After mixed results in January, the U.S. jobs report released Friday shows that 678,000 non-farm payroll jobs were added in February, and the return of skilled labor in residential construction is reason alone for optimism. As a result the...
Gender plays role during Raleigh’s real estate boom, data shows
Source: WRAL --- RALEIGH, N.C. — Kellie Corwin bought her Raleigh home last summer. "It was stressful," Corwin said. She and her partner were renting the home when they began their housing search. After opportunities fell through, they talked to their landlord and...
Why So Many People Became Real Estate Agents in the Pandemic
Source: The New York Times --- In March 2020 when the pandemic hit, the restaurant where Amy Bieganek was working as a waitress announced a temporary closure. By August, it turned into a permanent one. Unemployment was a shock for Ms. Bieganek, 53, who had been...
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