Bleak Outlook For Housing Prices Predicted For All Of 2023
By SCOTT KIMBLER The director of the AEI Housing Center at the American Enterprise Institute painted a bleak picture for the rest of this year and all of 2023 earlier this month during a presentation and forecasting of home prices in the United States. AEI Senior Fellow and Director of the AEI Housing Center Edward Pinto pointed to some major factors colliding at once that will be harming market prices, appreciation of owned homes, and the consumer ability to buy or upgrade a home at all. Those factors are inflation, which is at a 40-year-high, the Fed Fund rate continuously being raised to cool inflation, a housing shortage, and employment repercussions of the pandemic. First, the volume of homes being…