Goldman sees a housing freeze through 2027. It would lock in an economic divide between millennials

More than 95% of American mortgage borrowers pay less than today’s market rate, and 65% pay at least 2 percentage points less, a legacy of the mass refinancing of 2020 and 2021, when rates hit record lows . In a note published Monday, Goldman Sachs economists say that gap will keep the housing market stuck through 2027, with just 3.9 million existing-home sales, 26% below 2019 levels. The note does not mention millennials, but its findings bear on the split inside that generation.

Source: Fortune Crypto