Oxford Economics says the crumbling housing market will continue deteriorating because of two key factors

• The housing market continues to struggle with nearly high mortgage rates and home prices, driven by years of undersupply and slow home construction. Builders face higher costs and labor shortages, and home price growth is expected to slow this year as sellers pull homes off the market.

If you thought the housing market was bad enough: Buckle up. 

Mortgage rates are still nearly 7% and home prices are 55% higher than they were at the beginning of 2020, according...