House price probably was cheaper before stock market sinked in Sept and Oct. Now, everything is cheap from stock to commodities to commericial real estate to corporate bonds etc. So, relatively to say, house price is not cheap anymore, with money, you can buy things cheaper than real estate and get better return now.
There is also some bright points in house price, with mortgage rate aroung 5%, and extra 10% drop in price, home affordability will achieve historical average level ( or lower). The groom side is homeownership is still too higher, we might not get too many new buyers in this tough market even with lower rate incentive.
There is also some bright points in house price, with mortgage rate aroung 5%, and extra 10% drop in price, home affordability will achieve historical average level ( or lower). The groom side is homeownership is still too higher, we might not get too many new buyers in this tough market even with lower rate incentive.
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