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