If you are correct, I will be in low-ball heaven. Of course, it will eat up most of my savings, but none-the-less. If interest rates drive prices, it is a good thing. If a 10% interest rate makes a $500k house a $250k house, then I will pay property tax on $250k. People don’t realize the extent of the property tax burden, because it is absorbed and hidden in the mortgage and thus ignored. I bought my last home with cash and will buy my next home with cash and let me tell you that property tax stings you like a wasp when it is realized.
