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Reply to "Getting desperate: What would you suggest to a first time home buyer?"
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[quote=Anonymous][quote=Anonymous]I would choose b). House price will go down if interest rate goes up. The affordability won’t change much. You don’t want to be stuck with a house that you don’t like and that is hard to sell in the future. [/quote] Haha, no. We are essentially recreating prop 13 by having crazy low interest rates. People will be reluctant to EVER sell again because they don't want to lose their low low interest rate. Inventory will plummet further, which will drive prices up with higher interest rates. Now, at the point in 30 years, when everyone has paid off these low rates, the market may soften.[/quote]
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