You may want to do your Christmas shopping early as supply chain shortages show no sign of getting better. More bad news for first-time home buyers; rents are going up along with mortgage rates.
It’s a good bet the supply chain issues that have been plaguing us for the past several months will continue well into next year. Part of the problem is a lack of truck drivers. On a related note, bus drivers are in short supply as well.
The rapid increase in rents (Calculated Risk)
Some good stuff on why rents have been going up, especially for single family houses. The author also makes the case that these increases could be temporary.
The average 30 year mortgage just crossed over the 3% threshhold. Looks like the pandemic lows in mortgage rates are behind us. If they keep climbing, expect the housing market to begin cooling off as well.