Wells Fargo economist Mark Vitner says housing market is worse that it looks - Jacksonville Business Journal

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.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Wells Fargo economist Mark Vitner says housing market is 'worse than it looks' - Dallas Business JournalThe West, including the Bay Area, is bearing much of the pain, economist Mark Vitner said.
Source: DallasBizNews - 🏆 525. / 51 Read more »