The housing market of 2022 is in far better shape today than it was a decade ago. The housing industry has had a boom last year, with the most significant annual gain in single-family house values and rentals, historically low foreclosure rates, and the highest number of home sales in 15 years, reaching 6.9 million for the entire year. The national home prices have increased 33 percent over the previous two years. The market was driven by record-low borrowing rates in 2020 and 2021 and a constrained supply due to underbuilding. The tremendous demand from first-time homeowners is almost as crucial as the restricted new
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