So here's a good sign to watch for regarding "the future" and what happens with rising interest rates.....
Mortgage applications ----- DOWN 6.5%
Why? The reason given was "rising rates make homes less affordable". DOH!!
What happens if mortgage rates continue to rise and sales slow? You got it -- prices come down.... and??
You got it -- Builders start laying people off....
Let's hope the FED doesn't screw this up.
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