We’ve heard it said, “There’s one thing I know about the markets; they go up and they go down.” Rising costs, higher inflation, and increasing interest rates have all contributed to a cooling off of the real estate market. And let’s be honest, you can only sustain that kind of velocity for so long before you overheat.
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Whether you regard it as a market correction or simply a leveling off of some historic price increases, it’s bound to have an impact on the building and construction industry. This MSN article on the “housing recession” is interesting and helps shed a little light on the state things.