“Oh wait. Mortgages rates were 9.5% in the 80s. I guess we’ll survive”
5-6% was average ten years and we survived just fine.
Instead of buyers buying that $400k mcmansion they will downgrade to the $375k mcmansion without the home theatre and man cave. The horror.
“Instead of buyers buying that $400k mcmansion they will downgrade to the $375k mcmansion without the home theatre and man cave. The horror.”
Exactly, spot on.