MSNBC Morning Joe February 11, 2022 11:35:00
Costs because the lower the interest rates, the more house somebody can afford, the more they're willing to pay the costs go up. the costs were up 5% before the pandemic. they dropped to 2.56% mortgage rates at the bottom. they're now up because of what we've been talking about with the fed to about 3.7%. still very low by historic terms, so it is inexpensive to buy a house. but look at the cost of building a house on the right. the cost of construction materials is up 43%. lumber at one point was up four times, now it is two-and-a-half times. copper is up 65%. a lot of that, joe, has occurred...
Source: archive.org