North America's housing market faces a crossroads: rate cuts soften pressure, but affordability struggles remain widespread.
Despite lower borrowing costs, U.S. home prices surged 50% since 2020, far outpacing income growth.
Homebuilders and lenders gain momentum as slightly cheaper loans breathe life into construction and refinancing.
The “golden handcuff effect” keeps many owners locked in ultra-low pandemic rates, limiting housing supply.
Further gradual rate cuts expected into 2026, but lasting housing solutions demand more than monetary policy.