[quote=patientrenter][quote=fishsticks]….Any predictions how the SD housing market would respond to, say, 8% interest rates?[/quote]
That’s easy:
1. Houses would become a lot cheaper for savers (a very small group)
2. Houses would become slightly more expensive for borrowers (the majority of buyers)
C’mon, now gimme a hard question.
Oh, and before mortgage interest rates got close to 8%, the voters in San Diego would let their Congressman know that they didn’t want interest rates to be high, and, hey presto! they would be lowered again. It’s good to control the Federal Reserve.[/quote]
Absolutely the housing prices decline fast if interest rates move even 6% further at this trend, It is simple math how do you invest for 600K property with that interest payment and there is no future gurantee for that money you can get back at the end !!
