~ Doug French, "'Poison Ivy' Zelman's says 'Stuck Factor' has Housing Market Stuck," DouglasInVegas.com, October 19, 2022
Mar 27, 2023
Doug French on the housing bust and "stuck factor"
Existing home sales are undergoing a historic sharp contraction in sales. And, what will keep the residential market sluggish is what [Ivy] Zelman calls the “Stuck Factor.” An incredible 92% of homeowners with mortgages have a 5% rate or lower. Nearly half of those with a mortgage have a rate of 3.5% or lower. As long as rates stay where they are, or higher, people aren’t moving anywhere except in the case of the three D’s-divorce, death, or default.
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