Housing Market: High Interest Rates Make Home Prices Untenable

"Interest rates over 6% make existing home prices untenable. I think prices can easily fall 10% to 15% as rents and prices mean revert. Significant recession risk in the coming years as housing activity slows. This is likely to be a drawn out process," says Cullen Roche. Roche also examines mortgage originations by credit score and the overall mortgage market.

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