Zillow CEO: Rising Mortgage Rates May Trap You
"The reason for the limited supply is that "44 percent of Americans with a mortgage are effectively in a negative equity position," he said. "Meaning if they sold their home, they wouldn't be able to clear their mortgage. They're basically trapped in their home and can't list."
""We're now seeing unsustainably high rates of appreciation," Rascoff said. "In Phoenix, in San Francisco, in Orange County and San Jose, [Calif.], 20-plus percent year-over-year appreciation. Far too high. We've come back too fast. It's concerning."
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