US House Prices

US President Donald Trump says Fannie Mae and Freddie Mac will use $200 billion in cash to buy mortgage bonds, a move he claims will lower mortgage rates and make home ownership more affordable

That in turn has pushed up rents sharply in most markets, leaving the overall cost of housing much more expensive in just the past few years

Existing home sales dropped 2.7 per cent to a seasonally adjusted annual rate of 5.77 million units last month, the National Association of Realtors said on Wednesday

Withdrawing stimulus too slowly risks inflating real estate further and worsening financial stability concerns in the longer term

The year-long COVID-19 pandemic has shifted demand towards bigger and more expensive houses as millions of Americans continue to work and remote schooling remains in place

Low mortgage interest rates, some wage growth and low unemployment are the reasons for the rise