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What is preventing existing home sales from rebounding despite falling new home prices? | Cathie Wood from ARK Invest

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What is preventing existing home sales from rebounding despite falling new home prices?

Replied byCathie Wood

Founder, CEO & CIO at ARK Invest

Niche: Finance

Revenue: Not Publicly Disclosed/month

Location: St. Petersburg, Florida, United States

Started: 2014

Existing home sales are flat because homeowners are locked into low mortgage rates. Shifting houses would force them to pay interest rates that are double their current rate, making moving highly unaffordable.

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This answer is part of a full interview with Cathie Wood, Founder, CEO & CIO at ARK Invest.

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What is preventing existing home sales from rebounding despite falling new home prices?

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