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In the Spotlight
In the Spotlight
In The Spotlight
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Long considered a key pillar of wealth creation, home ownership in the United States has shown its teeth as mortgage rates have more than doubled over the previous twelve months. In our estimate, servicing the costs of owning a home in today’s market has increased by 71% from the year prior. Despite this lack of affordability, we believe the housing market will bend, not break, as challenged supply will be supportive of home prices.
Source: Bloomberg, GIR, Goldman Sachs Asset Management.
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