Wasn’t the last time we get 10%+ in mortgage rate, people were getting raises left and right (I hear people who work back then get 10-15% raise each year easily) AND CDs were in high single digits as well? If that happen, all those who bought a lot in this last crash will be freaking golden. Their monthly payment is fixed but now, then can raise their rent 5-10% each year. Talk about cash flow.
I sincerely hope we’ll we will see below 2008 price again AND someday, we’ll see 10-15% mortgage rate. My dream would be us experiencing the 70s-80s again. Add in the fact that we’re in CA and have prop 13, our property tax will be crazily low relatively (just look at the people who bought their house in the 60s/70s before the 10%+ rate hit.
