If spreads and the 10yr both go down, are we expecting to see house prices start rocketing again? Feels like something in the affordability picture changed vs pre-2020, but it doesn’t feel like lowering rates will fix it if prices are just gonna go up again
Inventory is higher than 2021 & 2022 levels, and mortgage rates were sub 4% for that kind of home price growth. So, that is very unlikely this will happen at low 6% rates
