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The UK housing market is experiencing a slowdown as asking prices show the smallest October rise since 2008. Home sellers are restraining prices, signaling a shift towards a buyers' market. The situation is exacerbated by higher interest rates, making it more challenging for first-time home buyers. Philadelphia Fed President Patrick Harker warns that high rates are closing off access to the housing market for new buyers. Bellway, a UK homebuilder, has also warned of a slump in home sales due to high mortgage costs and inflation. The Federal Reserve is urged not to consider further interest-rate increases, as many US small businesses struggle to cope with current tightening measures.
Bellway has warned of a slump in home sales, as high mortgage costs and inflation continue to dent buyer demand in the UK https://t.co/j1vGmAgyzz
FED'S HARKER SAYS FED SHOULD NOT BE CONSIDERING MORE RATE INCREASES (Reuters) Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing. https://t.co/Li57pMSkJs
Fed's Harker says Fed should not be considering more rate increases https://t.co/h78Uj42hDW https://t.co/vyP2aEHeqH
The Federal Reserve shouldn’t be thinking about additional interest-rate increases with so many US small businesses struggling to cope with its tightening to date, Philadelphia Fed President Patrick Harker said. https://t.co/sZilw2VMXa
The Federal Reserve shouldn’t be thinking about additional interest-rate increases with so many US small businesses struggling to cope with its tightening to date, Philadelphia Fed President Patrick Harker said. https://t.co/ceZDZkceIW
🇺🇸 FED'S HARKER: AMPLE EVIDENCE MANY DO NOT WANT TO SELL HOMES WITH LOW MORTGAGE RATES
🔴 FED'S HARKER: I SEE AMPLE EVIDENCE MANY DO NOT WANT TO SELL HOMES WITH LOW MORTGAGE RATES.
🔴 FED'S HARKER: THE FED SHOULD HOLD RATES STEADY ABSENT A TURN IN DATA.
FED'S HARKER SAYS HIGH INTEREST RATES CLOSING OFF HOUSING FOR NEW BUYERS (Reuters) Philadelphia Federal Reserve President Patrick Harker said the current level of interest rates has nearly killed off access to the housing market for those looking to get in for the first time. https://t.co/OEVnhN918w
The housing market continues to be a point of contention for people grappling with hiked interest rates, inflated rents and low housing supply -- upending the playbook for marketers and advertisers in the space. https://t.co/kmH81xJSr7
Philadelphia Fed President Patrick Harker said higher rates are making it more challenging for first-time home buyers https://t.co/xBUZeyRwa0
Fed's Harker says high interest rates closing off housing for new buyers https://t.co/vACIDFzI84 https://t.co/mQ3vEgMNsx
Philadelphia Fed President Patrick Harker said higher rates are making it more challenging for first-time home buyers https://t.co/0a9hEr1FpF
🔴 FED'S HARKER REPEATS THE FED SHOULD HOLD RATES STEADY ABSENT TURN IN DATA.
It's becoming ever clearer that we're now in a buyers' market for UK residential property. Like every other asset, house prices have to adjust to the new reality of higher interest rates - so we may still have a way to go. https://t.co/OmBMOpOhjE
It's becoming ever clearer that we're now in a buyers' market for UK residential property. Like every other asset, house prices have to adjust to the new reality of higher interest rates - so we may still have a way to go. https://t.co/rKupUsyr8B
Pessimism continues in the UK housing market with home sellers restraining asking prices https://t.co/7k2g9Mm39x
Pessimism continues in the UK housing market with home sellers restraining asking prices https://t.co/6qqDVFdgjc
Asking prices of UK homes show smallest October rise since 2008 https://t.co/Fyd57iJpNA https://t.co/FJqlvCsqRt