Realtors, mortgage brokers, and appraisers across the US are bracing for widespread job cuts as home sales plummet amid rising interest rates.
For those who work in and around the housing market, the effect of aggressive moves by the Federal Reserve to reduce inflation has been swift and severe.
“It went from feast to famine, from everybody buying to turtle slow,” said Linda McCoy, board president of the National Association of Mortgage Brokers.
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