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[quote=Anonymous][quote=Anonymous][quote=Anonymous]With rates over 7% it seems impossible for prices to increase over next few years.  Much more likely for prices to drop.[/quote]

I think that higher rates will choke off supply pretty well, keeping prices high.  Who is going sell a house with a mortgage locked in at 3.5% to buy another house at 7-8%?

Demand might just decrease less than supply.[/quote]

I think this assumes everyone is in a pretty stable stage of their life, when the only reason to move is to upgrade your space.  But that's not going to be true for everyone.  Sure, you have older folks downsizing, and you have couples getting divorced.  You also have people who are realizing that, actually, the middle school path isn't going to sort itself out, or this school is just not what I want for my kid so it's time to head to the burbs.  Or, hey, I always planned to move to a place with a yard when I had kids, and I have kids, and I still want that yard.  Or their jobs move, or a thousand other iterations.  If your life would be more comfortable if you moved, and you can afford to move, people will still move.

We just had our offer accepted on a house (moving for one of the reasons listed above), and were lucky enough to find a house where we could assume the VA rate for some of the mortgage.  Obviously this isn't something you can count on, but there are still some deals to be found out there, especially in this area where they were so many veterans.  And I guess my point is, we were willing to move even with today's rates.  [/quote]

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