Reply to Anybody else extremely depressed over real estate?

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Reply to "Anybody else extremely depressed over real estate?"

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[quote=Anonymous][quote=Anonymous]For years now, people have been saying that higher interest rates would force prices down. Normally interest rates are high because of higher inflation. Higher inflation literally means prices are going up but for some reason the folks saying high rates will lower home prices think that inflation applies to everything EXCEPT housing. I would call this wishful thinking.

Obviously no one should be trying to time the market but if you bought a few years ago, [b]you're paying back your home with incredibly inflated currency and at very low rates. Basically this means that your standard of living has almost certainly gone up even if your wages have only just kept up with inflation without any additional pay raises because the cost of your housing has decreased.
[/b]
In other words, home owner be winning.[/quote]

Absolutely agree with this. DH and I are feds, so comfortable enough but pretty flat salaries in our early 40s, and when he talks about moving I remind him that our standard of living is wholly dependent on keeping our 2.6% mortgage rate. The alternative is a much more demanding private sector job switch to maintain, not improve, our current standard of living. Thanks, but no thanks, to that one. [/quote]

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