Most of the time, the economy is like a slow-moving ocean liner that changes direction gradually and without much effort. But when a new, powerful variable presents itself, like the worldwide COVID-19 pandemic, the economy can change on a dime. COVID was a veritable iceberg for our ocean liner economy, but the ship did not go down! Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. With those two factors still very much in details ⇒

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