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Dean Baker states that the conflict between U.S. President Donald Trump and Iran has led to surging interest rates, significantly increasing the cost of buying a home.
He highlights that the rise in rates is making housing unaffordable for many potential buyers.
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Baker has previously commented on other major economic developments. He highlighted that China's economy now exceeds that of the U.S.. In a separate note, he observed a 50% decline in Oracle stock over the last year.