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NOVEMBER 2023
F I N A L T H O U G H T S
"the malaise consumers feel"
Doug Duncan, SVP and Chief Economist at Fannie Mae, details the worsening concern
consumers feel about the home purchase market and how home prices are a primary factor in why
potential homebuyers feel it's a bad time to purchase.
"wave of demand"
Ksenia Potapov, Economist at First American Financial Corporation, reveals the significant
housing gap between baby boomers and millennials, and the rate in which housing demand from
younger generations outpaces that of older potential homebuyers.
"a step further"
Clare Trapasso, Executive News Editor at Realtor.com, expresses her insight
on the path many homebuyers are taking to achieve the American Dream by
living with relatives to combat housing costs.
"taking the wind out of the
market's sails"
Jeff Tucker, Senior Economist at Zillow, discusses the effect of elevated
mortgage rates pushing monthly mortgage payments beyond homebuyers'
budgets, resulting in a significant decline in housing competition.
"a virtual standstill"
Sam Khater, Chief Economist at Freddie Mac, explains that purchase
activity has come to an abrupt halt as mortgage rate hikes continue to affect
homebuyer demand and affordability worsens for homebuyers nationwide.
FINAL THOUGHTS
In this month's Final Thoughts, experts express their predictions and opinions on the
state of housing affordability, fluctuating home prices, the effects of rate hikes, and
how the homebuying process differs among generations.
