LookOut, maybe so but then again maybe our mortgage will be the same as you're paying +2% interest… I don't know what's going to happen, but I think there will be a happy medium or intersect between rates and prices.
Most analysts are betting interest rates will fall before they begin to rise. IMO, it's far more likely that we'll see cheaper rates a year from now as opposed to the 2% increase you are predicting.
If rates are indeed cut and are in the mid 5's next winter, with another 10-15% decline in prices, that may be the time to begin submitting lowball offers. If you buy now at a slight discount, I strongly believe you'll regret your purchase a year from now.
