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To be honest we need interest rates to stay high or go even higher and stay there for the next 18 months in order for house prices to come back down to reality. If the Fed lowers rates too soon anyone trying to buy a house will get screwed because prices might start climbing fast again and inflate the already inflated housing bubble. I rather buy a house for 400k at 10% than a house for 500k at 6% even if it’s the same monthly payment because I will pay less property tax, less chance of the house going down in price and have the opportunity to refinance later given I got it at a super high interest rate.
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