2 ms·
Prices do not fall as much as needed to equalize mortgage payments. Demand falls, since few people MUST sell their homes for lower prices. Now if the high rat
by JJMcJ 3y ago
Prices do not fall as much as needed to equalize mortgage payments.
Demand falls, since few people MUST sell their homes for lower prices.
Now if the high rates were to continue for a longer time, that would be a different story.
- JJMcJ 3y agoTo clarify - demand falls, but many sellers do not need to sell their house right then. So many houses are kept off the market and so prices don't fall as much as they otherwise would.