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Mortgage rates were forecast to go down in 2025. Expectations of higher inflation and more government debt under Trump have helped mortgage rates rise in recent weeks. Why mortgage rates rose ahead of the election — and are still high nowMortgage rates went down a lot in September, with 30-year rates dropping near 6%, according to Freddie Mac. How Trump's policies could lead to higher mortgage ratesZhao says that right now it's "nearly impossible" to predict where mortgage rates will go in 2025. More supply would help moderate home price growth, improving affordability even if mortgage rates remain high.

Persons: Donald Trump's, Trump's, —, Freddie Mac, they're, Chen Zhao, Melissa Cohn, Trump, Zhao, Kamala Harris, Cohn Organizations: Trump, Service, Bond, William, Mortgage, Analytics

☆ Buying a home is expensive. What about ordering one for delivery?
▼ + stars: | 2024-11-11 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Manufactured housing, sometimes called mobile homes, are homes made in a factory rather than constructed on site, and they have been surging in popularity this year amid America’s housing crisis. Instead, they’re turning to the internet for lower-cost options, whether a pop-up foldable house kit, a tiny home or a traditional mobile home. Amazon is not the first major retailer to sell manufactured homes. More than 100 years ago, American retailer Sears, Roebuck and Co began selling kit homes from its catalog, with some for under $1,000. A 2023 Urban Institute paper argued that mobile homes were “uniquely vulnerable” to natural disasters compared to other housing.

Persons: Julie Johnson, homeownership, SSRS, George Rose, Donald Trump, Sears, Marc Norman, ” Norman, Katie Currid, “, Norman, Johnson, ” Johnson, Rebecca Blackwell, Johnson’s, Julie Johnson's, Patrick Harker, ” Harker, ”, ” CNN’s Chris Isidore Organizations: CNN, Facebook, National Association of Realtors, Getty, Census Bureau, Sears, Roebuck, Schack Institute of Real, New York University, Daily News, Urban, Hurricane, Federal Reserve Bank of Philadelphia, “ Locations: North Carolina, America, Boulder City, Boulder City , Nevada, Staunton , Virginia, Staunton, Mobile, Hurricane Milton, Englewood , Florida

☆ Meet the 20-year-old Democrat running a multimillion-dollar PAC targeting Gen Z
▼ + stars: | 2024-10-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +3 min

“You need real young people,” said Austin, the founder of ForwardBlue. He says he’s devoted as much time as possible to politics since then, postponing college and deprioritizing typical adolescent activities. “I spent every minute I could after school volunteering for my state party, building websites for Democrats, doing whatever I could,” he said. What sets the group apart from other Democratic groups trying to reach young people is not just its message, Austin said, but how it delivers it. “The rent is too damn high,” Austin said, referring to a political moment that went viral when he was in first grade.

Persons: David Austin, ”, Austin, ” Austin, Donald Trump’s, he’s, “, they’re, Sen, John Fetterman, Kamala Harris, Joe Biden, can’t Organizations: Gen, Pennsylvania Democrat Locations: mom’s, Jersey, Pennsylvania, Maryland , Montana , Ohio, Wisconsin

☆ A couple who moved from Hawaii to Colorado for a lower cost of living are struggling to afford a home on a six-figure income
▼ + stars: | 2024-10-27 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A millennial couple moved from Hawaii to Colorado in 2017 in search of a lower cost of living. AdvertisementEntrepreneurship could help them afford a homeSibok and his girlfriend moved to Colorado in 2017. Related storiesOne of the biggest reasons they left Hawaii was the state's high cost of living. Jon Sibok and his girlfriend are struggling to find a home in their budget in Colorado. AdvertisementWhen the couple first moved to Colorado, home prices and mortgage rates were significantly lower than they are today.

Persons: they've, —, Jon Sibok, Sibok, Redfin, he'd, it's, Doxo, Sibok hadn't, homeownership, he's Organizations: Service, Commerce City , Colorado —, Business, Commerce, Colorado Locations: Hawaii, Colorado, Commerce City , Colorado, Denver, Commerce City

☆ Trump's immigration crackdown could deplete the construction workforce and make housing more expensive
▼ + stars: | 2024-10-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +6 min

Related storiesA 2022 George W. Bush Institute study found that US metros with the highest immigrant population growth scored the lowest construction costs. Without the supply of these workers, history suggests housing costs are likely to rise. These could be significant, given that the construction industry would be competing against other immigrant-dependent sectors. Trump's campaign has implied that cracking down on immigration will help ease housing unaffordability by effectively removing one source of demand. Meanwhile, Trump's platform is also pushing another policy initiative that's unlikely to help housing costs: tariffs.

Persons: Donald Trump, —, Donald Trump's, doesn't bode, Jim Tobin, Tobin, George W, JD Vance Organizations: Service, Republican, National Association of Home Builders, Home Builders Institute, Bush, SC, Congressional

☆ US home prices hit yet another record high
▼ + stars: | 2024-09-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

US home prices hit another record in July, according to the S&P CoreLogic Case-Shiller index. Prices rose 5% nationwide, a slowdown from prior months. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . New data from Case-Shiller showed home prices rose 5% in July from a year before, marking another record high.

Persons: —, Brian D, Luke Organizations: Service, Business

☆ What the top 2024 election issues are for these young voters
▼ + stars: | 2024-09-22 | by ( Elise Hammond | Shania Shelton | ) edition.cnn.com time to read: +19 min

Along with the economy, young voters also name abortion, immigration, foreign policy, climate and gun control as other priorities. A recent GenForward survey conducted by the University of Chicago supports what dozens of young voters told CNN. Foreign policyAmerica’s position on the world stage is also top of mind for young voters. The Israel-Hamas war has proved to be a key sticking point for progressive and young voters, as well as Arab American and Muslim communities. Regardless of what issues are galvanizing young voters to head to the polls, many say they think their turnout in November will surprise some people.

Persons: N’Dea Gordon, ” Gordon, Gordon, who’ve, ”, Donald Trump, Kamala Harris –, they’ve, Logan Paul, Adin Ross, Harris, Vivek Rallabandi, Joe Biden, “ I’m, I’m, ” Rallabandi, Trump, Rallabandi, he’s, “, hasn’t, she’s, Vivek, Darius Diggs, Biden, Diggs, –, Darius Dupri Diggs, Darius Dupri Diggs Chaim Birzen, Birzen, “ That’s, Tyler Sands, Beyton Owens, Finn Gaensler, Finn, “ It’s, ” Gaensler, Roe, Wade, Ava Pallotta, Pallotta, Gen, Erin Clark, Kalkowski, Katelyn, Sebastien Ostertag, Sebastien Ostertag That’s, Ostertag, we’re, Jacob Telenko, ” Telenko, Jean Kojali, ” Kojali, Harris doesn’t, Harris ’, Noe Nunez, Nunez, ” Nunez, “ it’s, Jed Lyons, Joseph Yang, Yang, Joseph Yang “, “ We’re, CNN’s Kate Sullivan, Dana Elobaid Organizations: CNN, Western Governors University, University of Chicago, Trump, Federal Reserve, White, Republican, Marquette Law School, Senate, Trump’s, Harvard University, Boston Globe, Young, America, Democratic, US, Republican Party, Immigration, state’s Young Republican, United States Postal Service Locations: Columbus , Ohio, Pennsylvania, Rockland County , New York, America, Montana, California, Idaho, Santa Cruz , California, “, Port Chester , New York, Chapel Hill , North Carolina, Dearborn , Michigan, Israel, Gaza, Ukraine, Henderson , Nevada, United States, Cobb County , Georgia, Mexico, Zebulon , North Carolina, Mexican American, Gilbert , Arizona, Phoenix, Korean, Chandler , Arizona

Many said he failed to acknowledge the real reason many grandparents don't help with childcare more: They can't afford to. Many American families are stuck between a retirement crisis and a childcare crisis, with young parents unable to help their own parents — and vice versa. The childcare crisis meets the retirement crisisSandra, 51, has been dealing with both childcare and eldercare challenges over the past year. "And that would help parents who want to stay home and care for kids; it would also help grandparents who want to help care for kids while their parents are working." AdvertisementRachidi also said that revisiting the usefulness of regulations around informal care — settings like friend and family care — should be on the table, too.

Persons: Linda C, Donald Trump, Joe Biden, Sen, JD Vance, Linda, I'd, Vance, Trump, she's, —, Taylor Van Kirk, Van Kirk, Sandra, grandpa, Elliot Haspel, Haspel, Kamala Harris, Jennifer Baker, they'd, that's, Baker, who's, Angela Rachidi, Rowe, Rachidi, Connie Adler, Adler, Vance's Organizations: Service, Democratic, Business, AARP, Capita, American Enterprise Institute, asheffey Locations: California, Sweden, Arizona

In Japan, for example, most people are actually quite satisfied with housing costs. In recent years, rising rents and home prices driven by a severe housing shortage — coupled with elevated mortgage rates — have caused Americans' housing costs to soar to near-record levels of unaffordability. Some experts have pointed to Japan, where housing costs are lower than peer countries, as a potential model for solutions the US could adopt. While Japan's abundance of housing isn't entirely a positive story, when it comes to Tokyo, housing experts say there are many lessons the US could learn from its ally. AdvertisementWhile a population slowdown could help moderate housing costs, some experts believe a substantial population decline would have big economic consequences in the long run.

Persons: —, aren't Organizations: Service, Business, Housing, Gallup Locations: Japan, Israel, Turkey, Slovenia, Portugal, United States, Tokyo

☆ Mortgage rates fall to lowest level since February 2023
▼ + stars: | 2024-09-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market. The standard, 30-year fixed-rate mortgage averaged 6.20% in the week ended September 12, mortgage financing giant Freddie Mac said Thursday. Mortgage rates started to drop early last month on news affirming lower interest rates in the future, specifically after a weaker-than-expected jobs report for July, and have gradually edged lower since. “Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” Sam Khater, Freddie Mac’s chief economist, said in a release. The Fed doesn’t directly set mortgage rates, but its action do influence them through movements in bond yields.

Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, that’s, Lawrence Yun Organizations: Washington CNN —, “, Federal Reserve, Treasury, Las, P Global, Apple, Fed, National Association of Realtors Locations: New York City, San Diego, Las Vegas, America, Los Angeles, Miami

☆ Gen Z women are leaning into office-inspired clothing — but they're not wearing it to the office
▼ + stars: | 2024-08-23 | by ( Amanda Yen | ) www.businessinsider.com time to read: +8 min

Quang attributes the unexpected virality to a digital trend that first appeared at the end of 2023: the office siren. AdvertisementGoogle Trends shows searches for the term "office siren" increased tenfold between the first week of May and the first week of August. The office siren is a polarizing character — a sexed-up appropriation of office wear, restyled and applied to contexts outside the office. "Obviously, I'm not wearing this to the office," Quang said. "The office siren is just a character I'm playing."

Persons: —, Julia Quang, Aritzia, Zers, Quang, Josephine Hansom, Hansom, Gen, Kirsten Classi, Zummo, she's, Corey Robinson, Abercrombie &, it's, Robinson, Heather McLean, McLean, Nancy Deihl, Gen Z, I'm Organizations: Service, Business, Brands, Abercrombie, Abercrombie & Fitch, New York University Locations: Quang, Canadian, America

☆ A millennial couple who make $250,000 say they can't find a home in their budget: 'We refuse to become house-poor'
▼ + stars: | 2024-08-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

They want to keep their monthly mortgage payment between $3,000 and $3,500 — or around 30% of their monthly take-home income of about $11,000. However, rising home prices and mortgage rates in recent years have made this goal difficult to accomplish. "We refuse to become 'house-poor' and, like many others, are choosing to sit it out until the housing market is reasonable again," Laura said. With an 11% downpayment, they estimated their monthly mortgage payment would be about $5,000 — about 43% of the couple's take-home monthly pay. AdvertisementGoing forward, Laura said they plan to continue monitoring the housing market for a home they like that's in their budget.

Persons: —, Laura Graves, Samuel, they'd, Laura, they've, they're, it's, There's, Samuel aren't, We'll Organizations: Service, Business, Federal, Housing Locations: Portland, Wilsonville , Oregon, Wilsonville, Spokane , Washington

☆ I moved from Connecticut to California. I loved it, but felt so relieved when I returned to New England years later.
▼ + stars: | 2024-07-28 | by ( Carly Neil | ) www.businessinsider.com time to read: +5 min

Read previewIn 2015, my boyfriend (now husband) was accepted to a graduate program in Southern California. Carly NeilIt costs a lot to live anywhere nowadays, but Southern California takes that notion to a whole new level. Connecticut is also pricey (it falls in the top 15), but once you live in Southern California, most of the country feels like a discount. From Los Angeles to San Diego, the entire region of Southern California is well above average regarding median home price, yet another metric of unaffordability. AdvertisementThe weather in California was beautiful, but it became monotonousThere's nothing like fall foliage in New England.

Persons: —, Carly Neil, I'm Organizations: Service, Business, Golden State, East Locations: Southern California, Connecticut, California, New England, Laguna, . Connecticut, Los Angeles, San Diego, England, Orange County, West Coast, East

☆ Gen Z might have missed out on their chance to get rich through homeownership
▼ + stars: | 2024-07-13 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +6 min

Read previewHomeownership is helping some millennials get rich — but Gen Zers might have a hard time following in their footsteps. Some Gen Zers managed to get in on the fun — about a quarter of Gen Zers between the ages of 19 and 26 owned a home as of 2023, per Redfin. AdvertisementWhat's more, Silk said there's a larger reason Gen Zers shouldn't count on homeownership to boost their wealth. AdvertisementThese costs are already putting pressure on current homeowners, and by the time more Gen Zers buy homes, they could be even more burdensome. Their monthly payment is gone forever, and it has zero chance of providing an investment return.

Persons: —, Zers, millennials, Gen Zers, Roger Silk, Silk, hasn't, It's, it's Organizations: Service, Federal Reserve, Business, World Bank

☆ A millennial who makes 6 figures says she's looking across the US for a home but is struggling to find one in her budget that has green space and a 'metropolitan vibe'
▼ + stars: | 2024-06-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Read previewWhen Madelyn Driver and her husband began house-hunting, they thought they had a few advantages. The 30-year-old makes over $100,000 working in the tech industry, according to a document viewed by BI — and she said her husband also has a six-figure income. Driver is among a group of Americans with six-figure incomes who are having trouble meeting some of their financial goals. Related storiesOf course, for the majority of Americans who don't have a six-figure income — the average annual full-time salary was about $84,000 as of March — affording a home is even more of a challenge. Driver said their ideal location would have a highly educated population, diversity, plenty of green space, and milder weather than the Northeast.

Persons: —, they're, they've, Driver, hasn't, millennials Organizations: Service, BI, Business Locations: Pennsylvania, Colorado, Carolinas, Virginia

☆ Earning $100,000 a year isn't enough to feel 'rich' in the US anymore
▼ + stars: | 2024-06-12 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +6 min

Yet, we hardly feel rich." Americans say they'd need to earn $233,000 a year to feel financially secure and $483,000 to feel rich, according to a Bankrate survey conducted in June 2023. For Driver, getting rich isn't only about boosting one's income — it's about reducing one's expenses. To feel "rich," he guessed that he'd need an annual income of about $400,000 to $500,000 a year — more than triple his 2023 earnings. A high income can come with "lifestyle inflation"It's not just high-earning Americans who say they feel far from rich.

Persons: —, Driver, they've, hasn't, Christopher Stroup, he's, haven't, he'd, Stroup, Abid Salahi, Salahi Organizations: Service, Business Locations: Pennsylvania, Santa Monica , California, Santa Monica, Cincinnati, Vancouver, Canada

☆ My adult kids live at home. Space is tighter and costs are higher, but it might be the best way for them to save enough money to buy a house.
▼ + stars: | 2024-05-30 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

We've got three adult children, and two of them have boomeranged after college. I also look at the low interest rates from the pandemic, trying to prop up the economy. Interest rates — people don't want to move out of their homes when they have good interest rates. They don't sell because they know they're going to get into a new mortgage with higher interest rates. We feel like we're blessed that our adult kids want to spend some time with us.

Persons: —, Alex Gonzalez, Gonzalez, We've, it's, They're Organizations: Service, Business, Utilities Locations: Bloomington , Minnesota, Minneapolis

☆ Inside 2 Texas cities where home prices are dropping, sellers are slashing asks, and buyers can get lowball offers accepted
▼ + stars: | 2024-05-19 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

Read previewAfter years of sellers calling the shots in the real-estate market, the balance may finally be tipping towards homebuyers in some US cities. But with fewer prospective buyers in the market for homes, home prices are now declining in several cities across the US. Related storiesThe trend, has led many sellers to lower their prices — though prices still remain significantly higher than a decade ago. As homes linger on the market, sellers are reducing their prices to draw buyers, she added. "It's definitely a buyers' market right now," Boatright said.

Persons: —, Nicole Marburger, Austin, Marburger, homebuyers, Sellers, San Antonio —, Mercy, Boatright, I've Organizations: Service, homebuyers, Business, National Association of Realtors, Lone Star State, Austin, Austin and New Braunfels, Real, Hunters Locations: United States, San Antonio, New Braunfels, — New Braunfels, Austin, Austin and New, Texas, Braunfels, homebuyers

☆ Biden wants to make it easier for people to buy their first home. But there aren't enough houses.
▼ + stars: | 2024-03-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But I'm not waiting," President Joe Biden said during Thursday's State of the Union address. The White House is stepping up as homeownership costs keep mounting, with over 90% of the market overvalued. AdvertisementIn order to unlock supply, Biden called for a one-year tax credit of $10,000 to families selling a starter home. Ahead of the speech, Zillow Chief Economist Skylar Olsen noted that the supply crunch is worse than the White House has laid out.

Persons: —, Biden, I'm, Joe Biden, homebuyers, David Dworkin, Skylar Olsen, unspent Organizations: Service, Biden Administration, Business, National Housing, CNBC, Treasury Department Locations: homebuyers, Thursday's State

In a Sunday letter to Fed Chair Powell, shared first with CNN, Warren expressed alarm at how “astronomical” mortgage rates have made a bad situation worse and urged Fed officials to start cutting borrowing costs. “We urge you to consider the effects of your interest rate decisions on the housing market and to reverse the troubling rate hikes that have put affordable housing out of reach for too many,” Warren and fellow Democratic Sens. John Hickenlooper, Jacky Rosen and Sheldon Whitehouse wrote. “Come on, Fed! Turn it around and drop those interest rates,” Warren told CNN’s Kate Bolduan on Monday.

Persons: Sen, Sherrod Brown, Powell, ” Brown, Brown, Elizabeth Warren, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, “, CNN’s Kate Bolduan, Read Organizations: Banking, Fed, CNN, Democratic

☆ The great wealth 'realignment': Affluent people keep moving from NY and SF to cheaper, warmer places
▼ + stars: | 2024-01-07 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +6 min

Wealthy people are moving to states including Florida, Texas, North Carolina, and Tennessee. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Florida, Texas, and North Carolina are popular destinations for more than just the wealthy. The reshuffling of wealth is making historically cheaper states more expensiveIn Miami, in particular, this reshuffling of wealth has ushered in an era of unaffordability. "Miami and most of Southeast Florida have rebranded into more luxury markets," housing expert Jonathan Miller told BI in September.

Persons: They've, —, SmartAsset, Ken Griffin, Jeff Bezos, Alexander Tamargo, Indxx, AllianceBernstein, Charlotte, Goldman Sachs, Griffin, plunked, Jeffrey Greenberg, Jared Kushner, Ivanka Trump, Carl Icahn, Elon Musk, he's, Jonathan Miller, Bezos, Kushner, Trump, Dina Goldentayer, Dina Goldentayer Dina Goldentayer, Zillow Organizations: Service, Bloomberg, Austin, Citadel, Amazon, Allspring Global Investments, Oracle, Tesla, Dallas ., Company, Universal, Getty, Miami Locations: Florida , Texas, North Carolina, Tennessee, Miami, Florida, New York, California, Florida , Tennessee, New Jersey , Massachusetts, Dallas, Nashville, Charlotte, New York City, Texas, Miami Beach, Chicago, San Francisco, Austin, Coconut Grove, Southeast Florida

☆ The state of the US housing market in 5 charts
▼ + stars: | 2024-01-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Read previewThe US housing market is facing historic unaffordability and it's kept countless Americans sidelined or forced to face hefty monthly home payments. This lock-in effect has created a tale of two markets: those who have been crushed by high mortgage rates and those who have mostly gotten by unaffected. Many Americans secured lower mortgage rates during the pandemic. AdvertisementBut in 2023, that dearth of supply for existing homes was a boon for homebuilders — and Wall Street took notice. William BlairFreddie Mac Multi-family Home Serious Delinquency Rate William Blair, Freddie MacUltimately, in 2024 William Blair forecasts supply to improve, mortgage rates to fall, and existing homeowners to return to the market out of necessity.

Persons: —, it's, William Blair, Richard de Chazal, homebuilders, William Blair's, de Chazal, William Blair Freddie Mac, Freddie Mac Organizations: Service, Industry, Business, National Association of Realtors, Federal, Wall, Bloomberg

New home sales fell 5.6% in October, worse than expected, as higher mortgage rates took a bite out of demand. The annual level of sales in October was 679,000, down from September’s substantially revised 719,000 pace, However, sales in October were still up 17.7% from a year ago. October saw a sharp increase in mortgage rates to around 8% for a 30-year fixed rate loan. However, the higher mortgage rates have slowed sales of new homes as well. The recent drop in mortgage rates, with more expected next year, could prove to be a tonic to the market.

Persons: ”, Kelly Mangold, Greg Logan, Lisa Sturtevant, ” “, ” Sturtevant Organizations: Census Bureau, Department of Housing, Urban Development, Builders, RCLCO Real Estate Consulting, MLS Locations: RCLCO, Southern, Northeast, Midwest

☆ A realtor says a $660 apartment listing asking tenants to share a bed proves how 'grim' the affordable housing crisis is
▼ + stars: | 2023-11-22 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

Anya Ettinger said the listing paints a "grim" picture of housing affordability in major cities. But, according to the listing, you wouldn't just be sharing the apartment space — you'd be sharing a queen-sized bed too. According to Ettinger, listings like this one are a result of the affordable housing crisis in Toronto. But as of today, Ettinger said the listing she discovered is just another example of how severe the housing crisis is. "It just paints a very grim picture of the affordability crisis that we're experiencing here," she said.

Persons: Anya Ettinger, —, she's, Ettinger, she'd, They're, Insider's Alcynna Lloyd, Olivia Chow Organizations: Facebook, Service, UBS, CBC Locations: Toronto, Canada

☆ Canada's unprecedented housing crisis could be a warning sign for the US
▼ + stars: | 2023-11-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

The country is also almost certainly heading towards a recession — if it's not already in one — and the housing market is partly to blame, economists say. But immigration is just one of many factors at play — Canada's housing crisis far preceded the rise in immigration. Stillo believes Canada's housing bubble has been slowly "deflating" for the last 18 months, despite an upswing in prices earlier this year. But there isn't consensus on if and when Canada's housing bubble will burst — or even if there is a bubble. While housing prices have flattened recently as demand softens, he says they show no sign of significantly declining.

Persons: —, it's, Mosche Lander, haven't, Mike Moffat, Tony Stillo, Moffat, Lander, Stillo, they're Organizations: Service, Concordia University, Smart Prosperity, University of Ottawa, US, Oxford Economics, America, Bloomberg Locations: Canada, Canadian

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