Bonds and mortgage interest rates are closely related. The ten year bond over the past half year is the WORST in 234 years since George Washington was.
Real estate bubble update
Dated: April 23 2022
In the northern Virginia suburbs of Washington DC, there is no sign of a bubble. Open house traffic is very strong. Nice homes are getting multiple contracts, bidding up prices above asking. Buyers are well-qualified, and still all-cash offers are common. Will this last forever? Who knows? Anyone who says they can predict the future, well, they can't. Are people happy about the increase in interest rates? No. But as of today, no bubble.
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In northern Virginia, we are seeing price reductions.We are seeing increased time on the market before sale.We are seeing buyers insisting on -- and getting -- home inspections.This is a good thing.