Housing market in the United States headed for major slowdown

has sent the once red-hot housing sector into the midst of a severe correction with its aggressive rate hike plan as it tries to crush runaway inflation.

The U.S. central bank raised its benchmark interest rate by 75 basis points for the third straight month in September, following similar rate hikes in June and July — the most aggressive series of increases since 1994. The move puts the key benchmark federal funds rate at a range of 3% to 3.25%, the highest since the 2008 financial crisis. It also marks the fifth consecutive rate increase this year.

"It now appears house prices are falling even though inventory levels are still historically fairly low ," the bank said.

I wonder how many realtors voted for Biden.

Housing recession and in 6 mo an economic depression.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Gains Over 600 Points; Tesla Falls; Oil SurgesThe Dow rallied about 600 points as stocks rose broadly to start the fourth quarter. Treasury yields pulled back from multiyear highs.
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market Today: Dow Closes Nearly 800 Points Higher; Tesla Falls; Oil SurgesThe Dow industrials surged more than 700 points, as stocks staged a broad rally to start the fourth quarter after a punishing stretch of down days tesla falls, oil surges. Just like the old days. Dow will be down 1500 tomorrow at a minimum. Darkest days are ahead. Nope
Source: WSJ - 🏆 98. / 63 Read more »