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Real Estate
Reply to "Does anybody have a grip on the housing market?"
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[quote=Anonymous]No one really knows what's going to happen. Monthly payments have definitely skyrocketed for buyers who need mortgages, but some people will still need to buy and sell houses. It's a game of chicken to see how long sellers can wait vs buyers. If supply stays tight, prices could hold. If it doesn't prices will drop. There's also uncertainty about what will happen to rates both in the short and longer term. Realtors are pushing "date the rate and marry the house" to convince buyers that the pain is temporary and they can refinance later at a lower rate, but there's no guarantee that will be possible. [/quote]
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