Stock markets little changed as key Fed inflation data continues to decline

The biggest challenge in the real estate market is here to stay.

Bank of America economists have warned that the housing market will remain “stuck in the mud and unlikely to break free” until 2026 as the supply of homes for sale remains near record lows records.

The so-called “lock-in” effect for homeowners who got ultra-cheap mortgages while rates were low during the pandemic has caused homeowners to stay put.

The investment bank estimates that the impacts of this situation could last 6 to 8 years, limiting real estate activity and, therefore, residential investment which feeds the GDP calculation.

High interest rates have had a major impact on homeownership.

Mortgage rates remain around 7% despite recent declines in borrowing costs, keeping supply low and driving up prices of homes that change hands.

House prices hit a new record in April, although annual growth slowed from the previous month, according to the latest data available Bank of America projects that home prices will rise about 4.5% this year, 5.0% next year and 0.5% in 2026, according to Case-Shiller.

“Home prices have already exceeded their long-term fundamental value based on disposable income,” Bank of America economist Michael Gapen wrote in a note to clients Friday.

“Second, our economic outlook calls for continued normalization as the effects of the pandemic increasingly recede into the rearview mirror. The structural shift in housing demand that has driven up home prices is likely to fade over time. That said, we believe home prices are unlikely to fall much.”

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos