How will the federal interest rate hike impact home builders, buyers?
Economists say the goal of these interest rate hikes is to slow inflation.
Home builder
"We're now able to better forecast when we're starting a home what the cost is going to be in that home whereas six to eight months ago, we really didn't know until we almost had the home built," said Carroll, who is also the state home builders' association president.
In some markets the rate increases are causing sales to drop, but economists say that's not happening in the Triangle because buyers here tend to make more money than buyers in most other areas and can afford the higher prices.
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Carroll said our economic situation is much different from the 2008 recession when a lot of money stopped flowing so builders stopped building and people weren't borrowing money.
For now, he believes the banks are still confident in the economy.
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