said the nation’s housing market is faring even worse than recent headlines suggest.
But “It’s worse than it looks,” he said."A lot of folks have underestimated how much of a shift we’ve seen in the housing market.” in a report this week. “The housing market has since seen a spurt in contract cancellations and the most rampant discounting by homeowners and builders since well before the pandemic.“I don’t think we’re going to see a repeat of a situation where lots of folks have to suddenly sell their houses,” Vitner said, citing homeowners’ substantial home equity and lenders’ strong mortgage underwriting.
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