[quote=sdduuuude]Perhaps the hubub of buying is related to interest rates rising, as they have been doing for a couple of months now.
People trying to make their purchase before the rates price them out.[/quote]
I’ve said this before … if interest rates rise, all the tiers of properties will still sell. The highest tiers will sell for mostly all cash, as will part of the lowest tiers, to investors. The other part of the lowest tiers and the tiers in between will sell for all-cash or with purchase-money mortgages.
As to your “hubub-buying” participants, they will still buy … yes, even if fixed MIR’s are 7.5% +. They will simply buy a lower tier of home.
That’s the way it’s always been (sounding like a broken record notwithstanding) :=]
