Agreed that as long as rates stay consistent that pricing should tread water. You may see some variations but if you are shopping in the 500k range there is pretty strong demand there. At some point in time rates (in my opinion) will go up substantially but I believe that is pretty far down the road. Taking advantage of cheap cheap credit may not be a bad idea.

If and when rates do shoot up you will see strong depreciation however it may not be proportional to the rate hikes. At some point investors will set the base due to the return they make on the investment as a rental.

There will always be some downside risk to your purchase but the govt has displayed the will to manipulate the market and provide an artificial bottom.