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    Analysis

    November 13, 2022

    Costs Push Housing Affordability to 10-Year Low: NAHB

    Written by David Schollaert

    Housing costs continue to rise in the third quarter. New homes are now more expensive than they’ve been in more than a decade, the National Association of Home Builders (NAHB) said.

    The result: the housing market has tipped into a recession. The trend has been driven by rising mortgage rates, ongoing building material supply chain disruptions, high inflation, and high home prices, NAHB said.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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