How Big Tech layoffs could impact some of the priciest housing markets ...Middle East

A series of layoffs at America’s major technology companies could put pressure on local housing markets amid a broader nationwide cooling. These layoffs, brought on in part by a series of interest rate hikes from the Federal Reserve and a decline in revenues, could cause forced sales, damage buyer confidence and lead to smaller down payments — even from buyers who remain employed. “The housing market is fueled by confidence, affordability, and most importantly, jobs. Housing demand in tech-heavy metros is expected to be lower in the near-term,” Ali Wolf, chief economist at Zonda, told to The Hill. “In some cases, prospective homebuyers will lack both the financial ability to p

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How Big Tech layoffs could impact some of the priciest housing markets ...Middle East

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