Remember the good old Carter days of mortgages at 22% ?
In high prop tax states it’s not just interest rates.
Bet cash sales are declining, too, in those states.
Because of the confiscatory property taxes which can climb far faster than intetest rates.
Young people under 50 don’t remember or didn’t live in the Carter years. I bought my first house in 1980 at 11% just before the interest rates exploded. All Carter could do was change the part in his hair.