I would say that anyone hoping for double digit interest rates is asking for alot more then just low housing prices because if rates are up in the double digits, we will be having alot more to deal with then just housing topics. Be careful what you ask for. SD Realtor
Um, that's exactly what I tried to say in another thread. SD Realtor, you are so much more eloquent than me.
If a mortgage interest is double digits, can you imagine the cost of borrowing for other things? Let's see, credit card aprs are like 19% right now… Uh wait 30%+ aprs? Say goodbye to that 0.5% cash financing on cars (oh, wait, by then GM/Ford will probably be gone). Corporations of course will of course figure out a way to pass all their higher borrowing costs to consumers someone.
