Jerome Powell just warned that the US housing market needs a 'difficult correction' so that folks can afford homes again ⁠— but here's why it'll look nothing like 2008

Jerome Powell just warned that the US housing market needs a 'difficult correction' so that folks can afford homes again ⁠— but here's why it'll look nothing like 2008

Jerome Powell just warned that the US housing market needs a 'difficult correction' so that folks can afford homes again — but here's why it'll look nothing like 2008 Real estate investors have largely done well for the past few years. But with higher interest rates, things could be about to change. The U.S. Federal Reserve raised its benchmark interest rates by 0.75 basis points on Wednesday, marking the third such hike in a row. Higher interest rates translate to …