The central banks lower interest rates when the economy is stalling. Conversely, central banks set high interest rates when the economy is overheating. If low

The central banks lower interest rates when the economy is stalling. Conversely, central banks set high interest rates when the economy is overheating. If low interest rates would make housing overpriced and high rates would make housing underpriced, it would mean housing was cheap pre-2008 and expensive in 2008-2012. Was it so?