Josh did a great job explaining the very simple concept of why high rates are better. The biggest bonus is the fact that home prices will collapse. The next bonus is that you will have a smaller loan, pay less property taxes, have a cheaper escrow, cheaper homeowners ins., pay less origination fees if any, etc due to a smaller loan. Then when rates fall again, your cheap home will appreciate. So yea, if you don’t want to buy low and sell high, then we definitely follow different strokes.
Not related to housing as much, higher rates will help contain inflation, and that will keep the cost of living from out pacing my pathetic raises. It will encourage savings, and discourage irresponsible borrowing, which is hurting our country.
