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If you think of it as a U.S. Treasury bond then home prices can only go one way and they will.

However, unlike a U.S. Treasury bond home prices do not instantly readjust to the new coupon. Home prices are sticky because the people who own the “bond” refuse to reprice the instrument.

This is because they actually believe the lie they were told them by Zillow, MLS, Coldwell Banker Realty, Keller Williams Realty, HomeServices of America, Berkshire Hathaway, HomeServices, and Sotheby's International.

The wailing and gnashing of teeth will be deafening. The only question left is: When? nostr:note1qkdeulu49lzel6lx0s53z042rrzddmwmanf5v8pznwtfcpy79xhqy9fnl2

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Bitcoin For The Hood 2y ago

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Brunswick 2y ago

Low Interest rates inflated home prices and the cost of building materials and labor, the same way tax credits and other government grants and tax deductibility inflate college tuition, medical and car prices. Nobody likes to be on the receiving end of "deflation", they all scream "collapse" now, but when prices were artificially increasing everybody was pileing on the wagon to get easy money toward their evasive "retirement." Housing has always been a liability, not an asset, and now after 40 years of this madness the cities are literal warzones.

Nunya Bidness 2y ago

Exactly!

All these people also figured they could just continue to take equity out of their ever increasing-in-value domicile and now? Bupkiss.

captjack 🏴‍☠️✨💜 2y ago

when mortgage >10%, 12%, 15% maybe cracks will start

Nunya Bidness 2y ago

They could just hold at 8% for a very long time and it would all come tumbling down.

7c7e9abc... 2y ago

Glad I own my property and home outright, no mortgage, no property taxes. I love living in Alaska.