Bessent Attributes U.S. Housing Downturn to Prolonged High Interest Rates
According to Bessent, sustained elevated interest rates in the United States may have played a key role in triggering the current housing market recession.
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Terms & Concepts
Interest Rates: The cost of borrowing money, usually expressed as a percentage of the loan amount, set by central banks or market forces.
Housing Recession: A prolonged decline in housing market activity, often marked by reduced sales, falling prices, and decreased construction.