It is gonna be interesting. We all knew there was a catalyst needed for pricing to shift gears. I have always thought it was going to be interest rates and for the most part I still do. That event seemed to be a mirage over the past few years but the inevitable downgrade by Moodys will help to change things. Also what nobody seems to have touched on is once rates do start moving the percent of GDP needed to finance the debt will start to climb faster as old debt is retired at lower rates and then reissued at higher rates. So even though we may be taking measures to help the situation we may find that it is to little to late once rates do rise.
I find that sellers are still in a sense of denial with respect to pricing but it does seem like inventory is building again. I havent checked the stats but people on autosearches are getting much heavier volumes of notifications.
