I have a couple of friends that are mortgage brokers. They are having to take on second jobs because their business is down so much. This BS has a hidden ripple effect. Mortgage companies, moving companies, relocation companies and on and on. In the last month I have seen just 2 moving vans.
Would you move from something you can now afford to something you can’t? I wouldn’t, even to make an equity increase. You likely would still have the same mortgage face amount with a higher interest rate. AND you can’t move down without paying cap gains tax.