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“Home Same Home”

Writer's picture: Neil CaronNeil Caron

The U.S. just experienced its slowest year for home sales in nearly 30 years, driven by a combination of high mortgage rates and record-breaking home prices. Mortgage rates hovered around 6.5% for most of the year, while the median sale price soared to an all-time high of $407,500. These factors created significant barriers for prospective buyers, with less than a third of surveyed Americans who planned to purchase a home in 2024 actually following through.


Looking ahead, home prices are expected to keep climbing, intensifying concerns about affordability. Former President Trump has pledged to tackle the housing crisis by cutting regulations and ramping up construction. However, critics argue that his proposed tariffs and deportation policies could further strain the housing market by driving up material costs and reducing the labor force, ultimately making housing less affordable.


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