[Vermont Lt]

People who were on “the bubble” are rushing in to get their low interest rate.

That’s OK, but shortly after mortgages move towards traidtional rates (5-6%) the housing market is going to take a huge dump. All of these recent buyers are going to be under water. And it will look like 2009 again.

I cannot wait.

[Starboard]

And it will look like 2009 again.

************

I agree that mortgage rates in the 5-6% range will have an impact but conditions are much different now. We have the potential for strongly rising inflation and pressures from people escaping the blue hell holes.

Despite inflation fears I don’t see a dovish Fed jacking up rates to the point that it crashes the real estate market. That’s a risk this Fed is simply not willing to take, especially during an election year.

Inventories of homes in safe and desirable communities are extremely low.

[TexasGator]

“All of these recent buyers are going to be under water. And it will look like 2009 again.

I cannot wait.”

Not like 2009. Don’t hold your breath while waiting.

[millenial4freedom]

one tell-tale sign is this: https://www.msn.com/en-us/money/realestate/goldman-sachs-home-prices-to-climb-another-16-by-the-end-of-2022/ar-AAPr14s#:~:text=The%20Goldman%20Sachs%20model%20looked%20at%20supply%2C%20demand%2C,more%20people%20will%20drop%20out%20of%20the%20market.

History has show that GS lies intentionally - they could very well be inversing their 'proclamation' (as they did in 2008).

[Sequoyah101]

We share that hope.

This has been nuts. Tulips again.

I’d really love to see the dickweed speculative couple choke on the property they bought next to me to chop up into parcels.

Problem is, just interest on our national debt will choke us if we return to something like normal interest rates.