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Reply to "Does anybody have a grip on the housing market?"
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[quote=Anonymous]Rates will not return to 3%, more likely to rise to 8% but probably stabilize around 6%. Prices will not crash as some predict; rather, prices will also stabilize to 100% ask to close. Houses remain a desired good in the DC area. Low inventory, prices only slightly less than the peak, and higher mortgage rates result in buyers, especially buyers stretching to enter home ownership, competing for homes at the lower end of the now still higher market. Those with substantial equity and other economic resources can continue to purchase the more desirable homes, just finance with innovative methods.[/quote]
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