>Now is probably not the right time to buy because interest rates are at the highest levels in recent memory. Nobody in their right mind is selling right now un

>Now is probably not the right time to buy because interest rates are at the highest levels in recent memory. Nobody in their right mind is selling right now unless they are being forced to out of financial desperation. It sure would be nice if selling out of financial desperation meant lower housing prices. This sure isn't the case though, even today. That would make the case for higher cash to loan ratios. People still bought houses in the early 1980s when rates were dramatically higher than today. First and foremost shouldn't housing be seen as a public need vs a profitable asset anyway? This sort of thinking is what leads to so many average Americans becoming obsessed with home values. I don't think real estate as asset squares well with we need real estate to live adequate lives, but I digress