Steve Hanke, prominent American economist:
Sales of new homes in the United States fell by 17.6% compared to the previous month, marking the largest drop in the past 13 years.
Worse news: since the start of the U.S.–Israel war against Iran, mortgage rates have surged. The pattern is clear—when geopolitical tensions rise, mortgage rates jump and the housing market slips into slowdown. Trump is now facing the economic consequences of a policy whose costs are being paid by American households.
Steve Hankeeconomist
