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Answers (5)
- Dan, "the_country_hick"
- Contributions:4699
I am looking forward to both.
It seems that going back to historic pricing standards would be good for the real estate market long term.
It also seems that lower than reasonable interest rates only cause house prices to be to high. Just going from 5% to 7% interest rates removes 23.7% buying power. As buyers incomes will not go up by about 1/4 that quickly house prices will have to reset.
As interest rates rise and incomes rise very slowly it at all then house prices will normalize much quicker.
It seems that going back to historic pricing standards would be good for the real estate market long term.
It also seems that lower than reasonable interest rates only cause house prices to be to high. Just going from 5% to 7% interest rates removes 23.7% buying power. As buyers incomes will not go up by about 1/4 that quickly house prices will have to reset.
As interest rates rise and incomes rise very slowly it at all then house prices will normalize much quicker.
- hpvanc
- Contributions:2579
Neither, they are nothing more than symptoms caused by other fundamental structural issues in both the housing market and the general economy.
- Mark Nehs, Wisconsin, "WI Mortgage Lender"
- Contributions:250
Both would hurt sellers. Worries me? I think higher rates would hurt the housing market more than even lower prices. I am in the camp of stable prices for single families and interest rates for the next year or so but we'll have to wait and see...
- sunnyview
- Contributions:25139
They both do. When rates go higher, prices will go lower if the job market is still soft.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3923
For sure higher interest rates for my buyers. When someone is purchasing a home, generally speaking they are looking to live there at least five years. They get the mortgage write off and get to paint their walls :)
What I don't want to see for my buyers are higher interest rates.
What I don't want to see for my buyers are higher interest rates.
What worries you the most about the housing market, lower prices or higher interest rates?
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- 5.0/5.0
- (1 review)
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