Definitely a tough call. No doubt that sellers who bought when prices were lower and then refinanced using these lower rates are in a pretty good place for as long as rents stay high and other investments look overbought.

There are a lot of variables. I just like to point out that looking at the 70s and 80s as indicative of how the housing market should fare if rates rise isn’t necessarily a good idea because there were other factors at play during those years. Of course, there may be entirely different factors in the future that could affect the housing market in a similar way, but we just can’t know until we’re deeper into it.