Real estate expert Brian Lewis breaks down the current state of the U.S. housing market as Americans continue to suffer from a housing shortage.
"I just got off the phone with Greg Lewis, my brother in Richmond, Virginia, and he has three offers on [a property] today. I've got a property right here in New York City that was below the $1.5M mark, we got multiple bids," Lewis continued. "The thing is, it's going to cost those buyers more money to buy the same thing they could have bought a year ago for a lot less. So it all comes down to that monthly payment.
Photo taken on Oct. 19, 2022 shows a house for sale in Washington, D.C., the United States. New construction of U.S. homes declined in September amid cooling demand in the housing market, the U.S. Census Bureau reported Wednesday. "I think that housing is a passionate human need.
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