If you treat a home as an investment then yes, interest rates moving the wrong way would hurt you. However, if you plan on living in a house for years it doesn’

If you treat a home as an investment then yes, interest rates moving the wrong way would hurt you. However, if you plan on living in a house for years it doesn’t really matter. Once you’re in the market, a sort of housing relativity begins in that if your home loses value, then others in your market did too so if you sell to buy a different property, it has been normalized. So long as you aren’t leveraged too far. Regardless, over time inflation will probably dwarf your mortgage payment and in due time your monthly payment is “cheap” compared to rents or similar properties + you have equity. But with rising rates the monthly payment will be the same, inflation adjusted, but now more goes to interest than principal. Seriously, look up housing prices and interest rates over the years and calculate the monthly payment. Then adjust for inflation. Hasn’t changed in most places. Interest rates could go up, sure. I just doubt it. I don’t think remote work will have too big an effect on leveling cost of living though. Most places are simply not attractive enough for high earners to desire. A high priced, lovely suburb of NYC is going to always be expensive because there will always be demand to live near NYC for example. Of course interest rates going up + deflation would be disaster for most everyone in the market.