An economist working with state realtors says inflationary pressures will likely be putting pressure on home purchasing power, and possibly in the overall economy.
David Clark works with the Wisconsin Realtors Association and surveys how Wisconsin's home buyers and sellers are doing. Interest rates have been near an all-time low, but he says inflationary pressures are again being seen, as measured in percentage points..
"..we actually saw a little bit of an increase in October...."
Interest rates have been near an all-time low, but he says inflationary pressures are again being seen, as measured in percentage points..
"....they've been a bit concerned that core inflation has been rising at a level that makes them worry that inflation could become a problem if they don't take action...."
Clark says federal officials are showing concern that inflation could become a problem if they don't take action. Inflation is a sustained increase in the general price level of goods and services over time. When the price level rises, each unit of currency buys fewer goods and services. It means it costs more to buy basic things.
A recent report found the number of homes bought and sold in the Northwoods to be still growing, but interest rates might rise soon to stem inflationary pressures.
