I'm in the opposite boat. We had to move for work, and we bought a crappy house in a town I desperately want to leave as soon as possible. The housing market wa

I'm in the opposite boat. We had to move for work, and we bought a crappy house in a town I desperately want to leave as soon as possible. The housing market was going bonkers, so we now have a huge mortgage (but at a low rate). Now? The price of the house we bought is dropping, and the cost of buying any house anywhere else is effectively going up because of the rate increase. Putting aside my narrow self interest in the bubble being sustained so I can move without losing my shirt, I do hope that this causes actual home values to go down. A lot of first time buyers would have been really hard pressed to afford the down payment at the peak of the bubble, so it's good for them that things are correcting now.