The American dream of homeownership just got another reality check. Existing home sales unexpectedly fell 2.4% In June to an annual rate of 4.09 Million, missing economists’ expectations. At the same time, the median home price hit a record high of nearly $441,000 for June, while mortgage rates remain above 6%—keeping homeownership out of reach for many buyers.
Joining Alicia Summers to break down what these numbers mean, and whether a new bipartisan housing bill could bring relief, is Suzanne Porkse, founder of Phoenix Financial Group.
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