It’s no secret that 2022 has brought along with it a ton of anxiety, stress, and strain in the real estate environment. Buying a home or renting an apartment is more costly than previous years, and many people are struggling with finding affordable housing. More often than not, people are looking to sell their homes at the inflated prices, but are having a hard time finding somewhere new to move in to.
These issues are only a few symptoms of the potential real estate problems we may be up against very soon. In this video, we will take a look at housing data from this year and determine what to expect from the housing market moving forward into the summer.
Without a doubt, homebuyers are struggling in this season. As a result, ARMs are coming back into normality. ARMs are adjustable-rate mortgages that allow the homebuyer to pay what they can each month, eventually totalling the required amount. Historically, the rise of ARMs has ended in a global financial crisis, like in 2008. We may see plenty of new homes being built, but the interest rates of 5% or higher will not be suitable for the average American worker.