Quote:
Originally Posted by originalhypa
I'm waiting to see what happens to those who committed to real estate within the last 12 months when prices hit their peak. Those are the folks who are going to see the double edged sword of lower values, and higher payments.
That said, in 1981 housing prices rose upwards of 280%. It wasn't until interest rates hit almost 20% that things really got bad. But even if they hit the 4% range, things are going to get very tight for homeowners.
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20% interest rates would cause a depopulation by way of people throwing themselves off of the Lion's Gate Bridge.