“There’s no doubt the housing market has receded,” said Ali Wolf.
Squawk Box, the prestigious “pre-market” business news segment by CNBC, turned to Zonda’s chief economist Ali Wolf for a critical look at the downturn in the housing market. “Housing is the ultimate interest rate sensitive industry,” reported Ali. “As we’ve seen interest rates go up, now the monthly cost of a mortgage rate is up 40%…I think there’s no doubt that the housing market has receded.”
Watch the video below to hear from Ali and learn more about the slowing housing market.
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