Could U.S.-China Trade Battle Impact American Housing?
The ongoing trade battle between the U.S. and China could possibly impact American housing according to a recent poll from Reuters. The Federal Reserve has already made interest cuts, though, further effects may be on the horizon.
"The current 3% average rise expected for residential property across the United States this year is the weakest since quarterly polling for calendar 2019 began in February 2017, despite a complete reversal in Fed policy and market expectations for at least two more rate cuts this year," writes Reuters’ Hari Kishan, according to Reverse Mortgage Daily.
While U.S. property prices look to be on pace to exceed inflation, recent trends in the housing market does not point it being a growth factor in the American economy, according to the report.
In addition, the overall response to the poll saw 70% of respondents leaning on the side of negative effects in the housing market outlook.
To learn more about why the outlook may not be as bright as projections show, click on the image above.