People don’t care about prices, they care about payments and low interest rates kept payments low and pushed prices higher.
The Fed was sucking up MBS and keeping mortgage rates artificially low for far too long. That is over and a typically 30 mortgage is now close to 7% with home affordability being at record lows.
Unless the Fed drastically changes course and rates lower, prices will absolutely come down.
People don’t care about prices, they care about payments and low interest rates kept payments low and pushed prices higher.
The Fed was sucking up MBS and keeping mortgage rates artificially low for far too long. That is over and a typically 30 mortgage is now close to 7% with home affordability being at record lows.
Unless the Fed drastically changes course and rates lower, prices will absolutely come down.