National Housing Crisis Masks Severe Rental Shortages

National Housing Crisis Masks Severe Rental Shortages

Prospective homebuyers and sellers are locked in a holding pattern, as persistently high mortgage rates and elevated prices keep them from making a move. The US housing market, usually a tailwind for economic growth, is in a rut and could “soon be a full-blown headwind,” said Mark Zandi, Moody’s Analytics chief economist. “I sent off a yellow flare on the housing market in a post a couple of weeks ago, but I now think a red flare is more appropr…