"Luxury" buyers are less sensitive to interest rate increases due to the amount of cash they can deploy. If more housing stock isn't injected amidst a housing

"Luxury" buyers are less sensitive to interest rate increases due to the amount of cash they can deploy. If more housing stock isn't injected amidst a housing shortage, raising interest rates will disproportionately affects Buyers who really need affordability. Crappy deal. In cities like Seattle or Austin or Denver, 5% mortgage rates are unlikely to cool the market off in any meaningful way.