‘A deep freeze’: Mortgage rates and home prices are sidelining Philly homebuyers
Economists say that’s not likely to change for a few more years.
1 year ago
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File photo: Rowhouses in Philadelphia’s Spring Garden neighborhood. (Kimberly Paynter/WHYY)
What’s it like to buy a house these days? Interest rates are slowly decreasing, but inventory is pretty low, and with sky-high prices, first-time buyers have it rough. Now, new regulations for real estate agents are stirring up the market even more, leading to confusion for those hoping to own a home. Our guests are Mike Coleman, realtor and adjunct instructor at Temple University’s Real Estate Institute, and Kevin Gillen, a senior research fellow with Drexel University’s Lindy Institute for Urban Innovation.