Redfin Reports U.S. Housing Costs to Return to ‘Normal’ by 2030 With Stable Price Growth and Moderately Lower Rates

SEATTLE--(BUSINESS WIRE)--Housing costs could return to “normal” by 2030 if home-price growth stabilizes and mortgage rates fall to 5.5%, according to a new report from Redfin, the real estate brokerage powered by Rocket.

Home prices are near record highs, mortgage rates remain elevated, and not enough homes are being built to meet demand in many areas of the country. But recent weeks have brought some signs that the housing market is trending in a positive direction: home-price growth is slowing and mortgage rates are starting to fall.

Redfin’s new report explores hypothetical scenarios for U.S. home price growth, mortgage rates and income levels in which housing costs—measured using the mortgage payment-to-income ratio—would return to “normal.”

   ...more

RSK: Nice analogy and wishful thinking. I don`t think it will happen, however.