Doom And Gloom Ahead: Redfin CEO Unveils Dire Forecast For Housing Market

When the Federal Reserve began raising interest rates last year, many economists worried about a steep economic downturn and subsequent hit to the housing market.

The economy held up surprisingly well, outperforming all expectations. But, now it appears that 40-year-high mortgage rates are indeed slowing down the housing market, at least according to Redfin CEO Glenn Kelman.