Key Takeaways
- Many factors contributed to the rapid rise in home and rent prices over the past few years.
- Because of the long process from building to selling homes, it takes time for housing inflation to slow.
- The outlook for 2023 is cloudy, with many factors coming into play.
Over the past few years, the trend of rising home prices has left many would-be buyers priced out of the real estate market. Some are even hoping for a housing crash to allow them to buy a home. Here is why housing inflation spiked during the past few years and why any slowing is unlikely, at least in the near term.
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