The Lock-in Effect on the Housing Market

The higher interest rates have changed the housing market in a number of ways. I don't know if you guys have talked about the lock-in effect for a lot of home buyers out there. The area where you can profit from having a superloma mortgage and then getting, you know, seven or eight percent inflation adjusted in the stock market has narrowed a lot. So it's almost a wash if you have a seven percent mortgage and you can get seven percent in interest.

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