Housing industry urges Powell to stop raising interest rates or risk an economic hard landing

by anastasiakaufman-chime-me

PUBLISHED TUE, OCT 10 20239:19 AM EDTUPDATED TUE, OCT 10 202310:00 AM EDT

By:Jeff Cox

MIAMI, FLORIDA - SEPTEMBER 22: Workers create new homes for sale on September 22, 2023 in Miami, Florida. With high borrowing costs, people are reluctant to sell, creating a reported nationawide shortage of houses for sale. (Photo by Joe Raedle/Getty Images)
New homes under construction in Miami, Florida, Sept. 22, 2023.Joe Raedle | Getty Images

Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging housing costs and a “historic shortage” of available homes for sale.

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