Byron Sher, Early Environmental Warrior in California, Dies at 98

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-09-25 • Permanent link

Rising interest rates have sent shockwaves through the housing market, with Zillow's latest forecast revealing a 12% drop in existing home sales in August, and a 7% decrease in median home prices from the previous month. This sharp downturn has been attributed to the increasing cost of borrowing, which has made it more expensive for many homeowners to secure loans. According to Zillow's chief economist, Ryan Lundquist, "The combination of rising interest rates and increasing housing prices has led to a perfect storm of affordability challenges for many homebuyers." As a result, housing market activity has slowed significantly, with many experts predicting a continued decline in the coming months.

The impact of this downturn extends far beyond the housing market, with implications for the broader economy. Rising interest rates have been a concern for many investors, who have been watching the situation closely. The increased cost of borrowing has made it more expensive for businesses to expand, and has also reduced consumer spending. This, in turn, has led to a decline in economic growth, which could have far-reaching consequences for the global economy. As a result, many investors are taking a cautious approach, waiting to see how the situation unfolds before making any major decisions.

Historically, rising interest rates have been a common occurrence in the housing market. However, the current situation is unique in that it is happening at a time when the economy is already showing signs of slowing. This has led to concerns among experts that the downturn could be more severe than usual. According to a recent report by the National Association of Realtors, the current decline in housing activity is the worst since the 2008 financial crisis. This has led to a sense of unease among many in the industry, who are worried about the potential consequences of a prolonged downturn.

As the situation continues to unfold, there are several key factors to watch. One of the most important is the potential for further interest rate hikes, which could exacerbate the downturn. Additionally, the impact of the downturn on the broader economy will be closely watched, with many experts predicting a decline in economic growth. In the short term, however, the focus will be on the housing market, where many experts predict a continued decline in existing home sales and median home prices.