Higher mortgage rates and severe affordability challenges made a major impact on the housing market in 2022. For example, Susan Wachter, professor of real estate and finance at the University of Pennsylvania’s Wharton School, is predicting a decrease of 5% to 10% in national home prices in 2023 as both markets and inflation steady themselves. As Bloomberg noted, few are expecting the housing market to crash like it did in 2008, when collapsing home prices from mortgage defaults and risky investments on mortgage-backed securities burst the housing bubble.