Reply to Do you have any advice re: fighting popups/popbacks, etc?

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[quote=Anonymous][quote=Anonymous]So we have hit a couple of spaces on NIMBY bingo.

1. Don't add housing in my rich neighborhood, go gentrify somewhere east of the river, or else you are racist

2. Supply and demand don't apply to housing

3.  When you say that adding housing supply is good, you are just like supply siders under Reagan, so I don't have to listen to you

But "its all about the Fed" is a new one.  [/quote]

Only on DCUM would people act like the Fed is no big deal. The Federal Reserve is the most important player in the entire economy. People in the housing industry watch the Fed like a hawk because interest rates have such a profound effect on housing prices. Don't believe me? Go to a mortgage calculator, and mess around with the interest rate feature. If interest rates go to 6.5 percent, which, historically, is a pretty normal rate, your monthly mortgage payment would be roughly double what it is today. You don't think doubling someone's monthly mortgage bill might have an effect on prices?  [/quote]

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