FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.
I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”
And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)
