US Housing Prices Could Fall Up to 20% Amid Surge in Mortgage Rates

Per The Dallas Morning News

Dallas Feds say US housing prices could fall up to 20% amid a surge in mortgage rates.  House prices, adjusted for inflation, increased by the highest during the pandemic since the 1970s.

Homebuyers must make $87,000 a year to buy a typical Dallas-Fort Worth home. Fed raised rates by 3.75% points this year as it tries to cool inflation from a 40-year high.