The housing market also didn’t suffer the blows it might have. While the strong start the housing market enjoyed out of the gate in 2022 has come to an end, work from home seems here to stay. The consequence will be a permanent rise in the demand for housing that will keep housing prices strong for some time. Without this new demand, the rise in interest rates could have led to a housing crash in 2022 instead of a mere slowdown. With intelligent management of the economy (yeah, a big if), we should continue to see the fruits of these changes throughout 2023.

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