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> If interest rates go up, then the prices should go down to keep steady with what people are able to pay for a monthly mortgage. ... this is ignoring the 1000
by cat199 6y ago
> If interest rates go up, then the prices should go down to keep steady with what people are able to pay for a monthly mortgage.
... this is ignoring the 10000-unit gorilla that is appreciation of the underlying based on speculative investment and not based on actual supply/demand for housing itself ...
- imtringued 6y agoHaving expensive housing should be a benefit in principle. It's easier to justify building large apartment blocks and thereby provide lots of housing. Unfortunately nobody is building large apartment blocks.