demand has dropped, yet prices remain prohibitively high because inventory is historically low. At the end of the day, it is the everyday buyer who pays the price, watching the dream of homeownership turn into an unattainable privilege while mortgage rates stubbornly hover around 6.5%.
The real game-changer here could be this new bipartisan housing bill. High interest rates only treat the short-term symptom, but the true remedy for the real estate market is addressing the root cause: the chronic lack of supply. If this legislation successfully unlocks new construction and reforms zoning laws, we will see real, structural relief in prices over the long term, regardless of when the Fed decides to cut rates.
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