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The US Census Bureau, most famous for its demographic survey of each and every person in the country (well, about that…), has come out with data suggesting that the housing market has finally taken a turn. A downturn, that is.

Earlier this week, we considered the latest round of Federal interest rate hikes. Today, we are going to look at what these hikes are likely to mean for both residential and commercial property.

We’re one week into the Federal Reserve’s latest interest hike, which sought to tamp down inflation and create immediate, but not shocking, economic shifts. Looking to suppress housing and labor cost increases, as well as the cost of goods and services, the Fed’s moves, as we described last week in this compliance blog, were the next step in its increasingly hawkish strategy.

As widely predicted by analysts and journalists, and as telegraphed by the Fed itself, the Federal Reserve announced last week that it is raising interest rates by .5%, the highest rate hike in the last 22 years.

The Great Resignation has given rise to a laborers’ job market, which is great for working people who are finding more flexibility, autonomy, and satisfaction. But it is costly and frustrating for employers who need to fill empty positions and scale up new ones. Now the Fed is eyeing the labor market as a manageable front to fight the rising inflation currently plaguing the economy.