Don't look now but interest rates have risen for 2 straight weeks and are now at a disgustingly high 4.375%. I have absolutely no idea how anyone will be able to afford to purchase a home at these rates. To make matters worse, the average home price has fallen by over 10 percent in the last 2 years.
How in the world will we ever reconcile this. I know personally that I was waiting for 2% interest rates and at least a 30% drop in home prices, that way I could buy back a home that I sold in 1993 for the same price.
Oh well, I will get over it. I really didn't want to buy a house anyway.
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