Quote:
Originally Posted by vintageogauge
This is not similar to what has happened in the past. The last time loans were being given to anyone, even those that they knew could not afford them and the prices sky rocketed on homes. Fast forward a couple years they were all in foreclosure, tons of vacant homes hit the market, and the prices tanked. That is not the case here, Prices are high due to inflation, and lack of inventory. There are thousands of buyers out there waiting for rates to come down that will jump in and buy at the current high prices as soon as a rate drop happens, if it ever does. 7% is still a bargain when compared to rates 30 years ago.
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I think what is being missed is that one of the reasons interest rates are manipulated over time is to force people to put their money into the pyramid scheme, ah.... stock market, to make any type of gains. One cannot be elected if the stock market is bottoming to it's actual value.