02/22/2024
I am seeing a lot of New construction listings and now I am seeing lots of existing homes coming to market, font loading the upcoming Spring season. Many "Price Adjustments" on the current inventory and longer "days on market" for existing homes. Something will have to give. I fall into the "home prices will have to come down if interest rates are higher" camp. The 30yr fixed rate is mostly tied to the 10yr Bond rate, so if more debt is being produced by the USA and there are fewer buyers of said debt, well, interest rates might have to go up, not down... But, WTF do I know.
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