I also agree with CA renter. I’m currently renting, but have a pretty good nest egg. If interest rates increased enough to push down prices, I think I’d be okay buying at the higher interest rate because I would be able to make a substantial down payment and have the prospect of eventually refinancing.
What I’m wondering is, who sells their house when high rates have depressed prices and the house in question is financed at a record low interest rate? Will inventory be limited sellers who are desperate or lucky?
Seems like it could be years before that’s a relevant question, I guess. a quarter percent bump by the Fed every so often doesn’t seem likely to do much to prices…
