Homebuilder warns real estate market is becoming victim to its 'No. 1 killer'
High interest rate environment impacts home builders, buyers, sellers, says NAHB CEO
As a large, gray cloud looms over American real estate, the CEO of one of the largest trade associations is revealing what may make it pour on the market.
"We had a better regulatory environment three or four years ago. We had this boom after COVID, people were looking to buy new homes and our industry was doing great," National Ass... moreHomebuilder warns real estate market is becoming victim to its 'No. 1 killer'
High interest rate environment impacts home builders, buyers, sellers, says NAHB CEO
As a large, gray cloud looms over American real estate, the CEO of one of the largest trade associations is revealing what may make it pour on the market.
"We had a better regulatory environment three or four years ago. We had this boom after COVID, people were looking to buy new homes and our industry was doing great," National Association of Home Builders CEO Jim Tobin said on "Varney & Co." Wednesday.
"The challenge we have now… inflation is absolutely the driver," he continued. "People are pulling back from the marketplace because they don't want to have a seven-handle on a mortgage, especially when they're sitting on a 3 or 4% mortgage."
"That's the No. 1 killer of the marketplace right now."
