Mortgage Rate jump up, slowing down the buyer market

I hope this is good news for those who have been saving a down payment for their first home. I wanted to buy as early as 2018 but it seemed low interest rates meant much of the middle class could afford a huge loan, so everyone made over the top offers and bought all the stock.<p>I&#x27;ve been patiently putting money away hoping interest rates would go up so I could have more homes to choose from, then wait for rates to come down and refinance.

I think the Fed saved us all when they got those interest rates up in time. I think even now we&#x27;re tempting the 2008 bubble demon. There is still a ton of local inflation, but I can&#x27;t imagine what housing would look like if we kept interest rates below 2%.

<a href="https:&#x2F;&#x2F;www.cnbc.com&#x2F;2023&#x2F;04&#x2F;06&#x2F;a-big-short-investor-sees-disaster-brewing-in-housing-markets.html" rel="nofollow">https:&#x2F;&#x2F;www.cnbc.com&#x2F;2023&#x2F;04&#x2F;06&#x2F;a-big-short-investor-sees-di...</a>

It is also slowing the seller market.<p>We bought a house at 3% all in... and we&#x27;re unlikely to sell.

People won’t intentionally sell their house for less than they paid. They also won’t sell to incur mortgage debt. The sellers are likely distressed sales or other forced sales. Foreclosures are cheap for reasons.

Healthcare and Housing will be the end of the American civilization XD