The New York TimesBuying a home was hard before the pandemic. Prices, already sky-high, have gotten even higher, up nearly 40% over the past three years. Available homes have gotten scarcer: Listings are down nearly 20% over the same period. And now interest rates have soared to a 20-year high, eroding buying power without — in defiance of normal economic logic — doing much to dent prices. None of which, of course, is a problem for people who already own homes.

Source: Wall Street Journal November 19, 2023 18:14 UTC