I think a lot of the economy/stock market has been juiced by people refinancing their homes as prices went up and using that money to buy second homes, new cars

I think a lot of the economy/stock market has been juiced by people refinancing their homes as prices went up and using that money to buy second homes, new cars, remodel their homes, new phones, etc. Now that rates are higher, I think the rest of the economy will cool off as people can't use their homes as ATMs which will lead to a consumer spending slow down which will lead to a stock market correction which will lead to layoffs and finally start forcing more real estate transactions.