So you’ve read my post about buying property in a rising interest rate environment, and you’ve started implementing the spray and pray method of making low ball offers. Good job! We’re coming to the end of the latest real estate bull cycle, and I strongly believe we will go flat to down over the next several years.
Nobody should be in a hurry to buy property now, especially in hot markets like Denver, New York, San Francisco, San Diego, LA, Seattle, and Portland. It’s time to let income and wealth “catch up” to the ridiculous rise in property prices over the past several years.
Even if mortgage rates don’t go up after the Fed raises the Fed Funds rate, there is this fear across the country that mortgage rates might rise, and that’s all it takes to keep a lid on prices.