Last year a 30-year mortgage under 3% meant your payment on a $500,000 home was $2,100/month (not including down payment, taxes and fees) but now a 6% mortgage only gets you a $352,000 home for $2,100/month.
Unless rates come down, how do we not get 20-30% correction in prices?
What will pent up consumer demand look like post-Covid? 1 country can give investors some clues: Australia. Hereโs some eye-popping data on how demand for travel/restaurants spiked since Australia reopened 3 months ago...๐๐๐
@BalaSardin Should also tell their children to stay home. Don't go out, contract the disease and bring it to their elders. No one should go out unless it's essential.