IBT | PANOS MOURDOUKOUTAS PH. D.
The US housing market has been in another bullish trend in recent years. Home prices have stayed firm even in the middle of the pandemic recession and staged a big rally as lockdowns eased, with some regions registering double-digit annual gains. That’s thanks to an accommodative monetary policy, which kept mortgages at record low levels, an unprecedented fiscal stimulus, and a snap-back labor market, which created a demand/supply imbalance with sellers gaining the upper hand.