Why do you think housing is a safe haven? Interest rates will continue to rise, thus making a monthly mortgage payment more expensive. People can flat out not afford to purchase homes at these levels if interest rates rise. It's simple math.
But if you get your mortgage now, you don't have to worry about those future increases. IIRC, most American mortgages are fixed rate.
Yes, everything that goes wrong with the house is now your responsibility. Yes, you will pay property taxes. Landlords are not in the business of renting at a loss in cities just yet. Occupancy rates are still high.
For anyone that is not currently a home-owner, I'm afraid you're correct.
It would also wipe out a lot of people's savings.
I think interest rates will stabilize in the near future. I don't think they can continue to go up without demolishing the economy.
Interesting username, btw!
"Interesting username, btw!"
Ha! Thanks. You should see the @mentions I get on IG. Turns out a lot of people are often mad at the bank...
Edit: Ah, wow I can't read. I need a cup of coffee :)