For families like Moira Gallagher's, home ownership remains a distant goal despite strong household incomes. This predicament highlights a broader trend in housing instability due to inadequate supply and high costs.
From Anchorage to Amsterdam, housing supply does not meet demand, driving up prices to levels out of reach for even middle-class families. This global issue highlights the need for more effective housing policies.
While central banks are lowering interest rates to alleviate some financial pressure, the reductions are unlikely to solve the affordability crisis, as rates are still above historical averages.
The expectation of lower mortgage rates does spark hope for potential homebuyers, but analysts warn that these rates will not return to the very low levels experienced before the recent economic upheavals.
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