Seconding this, but for the Bay Area real estate market. My theory is that raising rates will reduce the number of people in the market because money won't be

Seconding this, but for the Bay Area real estate market. My theory is that raising rates will reduce the number of people in the market because money won't be as cheap, however what I'm not sure of is the sheer massive amount of demand from people with money (investors and highly-paid techies) and whether it will be enough to cancel it out. As someone who bought earlier this year I guess I'll see. Sure as heck hope it keeps going up for a bit more.