Haunted Housing: The Outlook for Residential Real Estate

The housing market is haunted. It’s haunted by the legacy of too-easy monetary policy for well over a decade which allowed prices to vault higher in the post-pandemic boom. It’s haunted by tariffs and immigration policies that are simultaneously raising the cost of home-building and limiting population growth and, thus, the demand for new housing. And it’s being haunted by the Fed, whose attempts to manipulate the economy are shrugged off by almost all other sectors, leaving housing alone in its vulnerability to rate swings.