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re: 30-year fixed-rate mortgages reach 7.15%
Posted on 10/19/22 at 9:02 am to DallasTiger11
Posted on 10/19/22 at 9:02 am to DallasTiger11
the rates and home values will equalize within the confines of general economic health. A recession coupled with massive inflation will kill the housing market much quicker. As SDV mentioned, 7% wouldnt have scared anyone 20 years ago. Now, it could lead to a sector collapse.
ETA - petro products are heavily integrated into home construction as well, so high oil coupled with generally higher prices on building materials could make building at higher rates a non-starter. Then the housing market could become exclusively low-end secondary.
ETA - petro products are heavily integrated into home construction as well, so high oil coupled with generally higher prices on building materials could make building at higher rates a non-starter. Then the housing market could become exclusively low-end secondary.
This post was edited on 10/19/22 at 9:08 am
1
Posted on 10/19/22 at 9:17 am to Vacherie Saint
quote:
Then the housing market could become exclusively low-end secondary.
Seems like this is the plan. Especially with the boarder wide open.
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