The more likely scenario is for interest rates to stay high even once the rate increases stop, ie, a pause, not a lowering. There would have to be a severe downturn in the economy for interest rates to drop due to mass unemployment. In that environment, sellers will become squeezed and will bring more homes on the market. Buyers will be unemployed and not have the money to buy due to heavy debt burdens.
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The more likely scenario is for interest rates to stay high even once the rate increases stop, ie, a pause, not a lowering. There would have to be a severe downturn in the economy for interest rates to drop due to mass unemployment. In that environment, sellers will become squeezed and will bring more homes on the market. Buyers will be unemployed and not have the money to buy due to heavy debt burdens.