Also, remember that in most RE markets most movements up or down have the seeds of the next change sown into them in equal magnitude. Or think of it as a big ship that turns slowly, itll take many turns to put it back on course.
What I mean is that we had a RE bubble of gigantic proportions, and have a recession/fall to match.
We had almost no demand last year for houses, and now it is crazy out there with 20 people lined up for a house not even on the market.
It is crazy out there and prices are starting to rise as inventory plumets and interest rates are just plain stupid, and this fall I believe we will have historically low but non stupid (~6%) rates with a balance of inventory on the market inrelation to demand. (itll be brisk, dont think you can window shop forever, it just shouldnt be a frenzy)
I would say that we should have high rates this fall as a correlation to out now low rates, but the government has obviously decided this is unacceptable and will financially rape future generations to make sure it isnt so.
