housing collapse

Rates rising this fast is going to cause an economic disaster. While the fed is focused on inflation, raising rates is going to start a domino effect that begins with housing prices. Those will become unaffordable as people who just bought won’t be able to sell.

The market won’t be able to adjust pricing down without a major foreclosure wave, so people will just be unable to buy. Like 2008, so much of the economy is tied to real estate that the workers who rely on it, from carpenters to finance will be out of work. Without money to spend, the impact will ripple to the rest of the market.

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