In this Friday Market Outsiders, Namaan breaks down why the U.S. housing market - responsible for 16% of GDP - is stuck in the mud.
Despite builders offering mortgage rate buy-downs that bring the effective interest rate to as low as 5%, demand remains near record lows and unsold inventory is piling up at levels not seen since 2009. Homeowners locked into sub-4% mortgages aren’t listing, new home sales are stagnating, and builder profits are getting squeezed.
Namaan explains why falling rates alone won’t fix the crisis and makes the case for solving the real issue: a 4-million-home supply shortfall.
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