"Rising Mortgage Rates and Low Inventory: Navigating the Housing Affordability Crisis"

Celebrity real estate agent Mauricio Umansky warns of a "perfect storm of total unaffordability" in the housing market, attributing it to high interest rates, low mortgage applications, and a lack of supply. He suggests that prices won't drop until there is more supply and pain in the market, and calls for government intervention to address the issue of hedge funds buying up single-family homes, which is contributing to the supply shortage.