It’s a few things, at least in my experience house hunting.
High prices
High interest rates
Limited availability due to people being locked into low-rate mortgages
Those three items, in combination, are a death sentence for anyone wanting to enter the market. Hell, my 800 sq ft condo is going for over 650k now, which is a great litmus test for how absurd prices are right now in my area.
It’s a few things, at least in my experience house hunting.
High prices
High interest rates
Limited availability due to people being locked into low-rate mortgages
Those three items, in combination, are a death sentence for anyone wanting to enter the market. Hell, my 800 sq ft condo is going for over 650k now, which is a great litmus test for how absurd prices are right now in my area.