If someone has a low interest rate on their current place and buying a new home means a much higher interest rates, isnt that person a lot less likely to move?
I think inventory will be very low for a while in the housing market. Sure, some may need to sell due to life events like - divorce, new job, job transfer, but I think many don't need to move houses and a much higher mortgage rate on a new place certainly disincentives a move.
|