By Mark Gilman Homeowners who took advantage of low interest rates years ago now face mortgage rates upwards of 8 percent and are not moving. Referred to as the “lock-in effect,” those rooted residents have dramatically affected what has become an inventory-depleted housing market. But those locked-in homeowners are also relishing near-record equity levels that […]
Tag: Economic Recession
In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending.
