Global Macro Service > Research Briefings > United States
Low mortgage rates, high affordability, stable to higher incomes, and migration to less dense regions supported the US housing sector’s outperformance in 2020. A solid economic recovery bolstered by more fiscal stimulus, still-low mortgage rates, and unmet demand should continue to prop up home sales and construction in 2021, but we expect momentum to cool in the face of a chronic shortage of homes for sale and eroding affordability.
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