Anonymous wrote:
Anonymous wrote:It’ll depend who is selling. People who sell once rates drop probably fall into 2 camps: 1- upgrading from their first home, need more space and 2- downsizing for retirement
I feel like it’ll cancel out. People are sooo used to their low monthlies right now, and theyre not going to be itching to more than double which i think is the problem for camp 1 now
A lot of people are not going to give up their low mortgage rates even if they buy another house. A high proportion of these properties with sub 3% mortgage rates can be rented out with positive cash flow. It’s also doubtful that we will see rates this low within the next few decades. If we are lucky maybe rates can go slightly under 5%, but I don’t see sub 4% rates happening again anytime soon.