CBS News reports on three troubling trends in the housing market that pose a long-term threats to its health:
Home prices in the United States have never been higher. In January, housing values eclipsed their 2006 pre-crisis peak and since then have only pushed higher, according to the Case-Shiller home price index.
The culprits are a crazy tight job market, rising wages and the fact that the homeownership rate is rising again after bottoming in 2016.
But storm clouds are gathering as the Federal Reserve pushes interest rates higher, part of its ongoing fight to keep a lid on inflation. Higher rates weigh on home affordability -- and thus depress demand. Here are three growing headwinds the housing market faces: