What you keep passing over is the majority of homeowners sitting on fixed rate mortgages of 3% or lower. Most people would just stay put or rent out their home even if that meant having to rent elsewhere. Even if rents came down (unlikely to any large degree) we have inflated so much homes will cash flow very nicely. Whos gonna give up a 2.5% fixed rate mortgage when rates are 5% or higher? I’ll wait
