Fed Raises Interest Rates by 0.75 Percentage Point, the Largest Increase in 28 Years – The Epoch Times
The Fed raised the rate by 75 basis points (0.75%) marking it the highest rate increase since 1994. High home prices combined with high interest rates as pictures below, well, do the math.
I hate to sound pessimistic, but unless you’re carting around a lot of cash, it’s effectively a death blow to the real estate industry primarily in California home to the highest housing prices.
My advice with respects to buying a home remains the same: if you’re ready, able, willing, and can afford it, the time to buy is now. Owning a home will always be better than renting someone else’s home.