Jim Egan

It's not as unaffordable as it was in the fourth quarter of 2023. But we're still talking about one of the more pressured environments of the past several decades. And because of the proliferation of 30-year fixed-rate mortgages, you have this lock-in effect that's been well covered in the media.

It's not as unaffordable as it was in the fourth quarter of 2023. But we're still talking about one of the more pressured environments of the past several decades. And because of the proliferation of 30-year fixed-rate mortgages, you have this lock-in effect that's been well covered in the media.

And that's keeping inventories close to, I can no longer say at historic lows, but close to historic lows. So unaffordable, and there aren't a lot of those homes to buy, which is propping up that unaffordability.

And that's keeping inventories close to, I can no longer say at historic lows, but close to historic lows. So unaffordable, and there aren't a lot of those homes to buy, which is propping up that unaffordability.