By KIMBERLEY HAAS A U.S. Congressman serving the 8th district of Texas says housing inflation is crushing the American dream for families. During a hearing, Ways and Means Republican Leader Rep. Kevin Brady said American families and workers are finding that President Joe Biden’s economy is “cruel.” “Working women haven’t had it this bad in decades. The dangerous baby formula shortage, rising crime, and inflation, and now housing they can barely afford to live in. Just as with crushing gas prices, Democrats in Washington are blaming everyone under the sun for the cruel rise in housing costs: builders, local investors and developers who make the construction of new homes and neighborhoods a reality,” Brady said. He added, “Republicans have held…

Investors and economic analysts are closely monitoring Omicron, the Covid-19 variant taking the news cycle by storm, as the country enters the busy holiday season. The question on mortgage professionals’ minds is: how will Omicron affect the housing market? Analysts’ answers are mixed, but the overall trend is cautious optimism. “Right now, we are looking at pretty severe reactions to the omicron news in the stock market,” Tomas Jandik, a finance professor at the University of Arkansas in Fayetteville, told Realtor.com. “The residential market may be more immune to COVID because of what we have already seen in the past waves of the virus.” “It is unlikely that rates will move down any further due to the new Omicron variant,”…

The New York Times

Brady: Housing Inflation Crushing American Dream

Analysts Are Cautiously Optimistic Omicron Won’t Damage Housing Market