The first TWO houses I bought carried a 12%+ interest rate mortgage. I would have killed for a 7% rate. But, of course, that was in 1979-1981 and both had a purchase price of $55k. So...yeah...

When I moved to a nice retirement/vacation spot in 2007, I told folks I wouldn't buy until prices came down 50%. I was looked at as being somewhat wacko, naive or an enemy. Five years later, I was ready to buy and prices had dropped 40-50% in some cases. I didn't, but for other reasons, I moved a little out of that area and bought--just before the last round of crazy gains everywhere.

Today I have a place that until recently, was increasing in value at the rate of nearly $1000 per DAY, yet will be difficult to unload at or below my purchase price probably when the birds come home to roost. At 3%, the mortgage is do-able but will be paid off in a couple more years perhaps and is low enough (or will be) that I will soon be able to sell it for half of what I paid which was a pretty good deal to begin with.

Housing cycles are a thing... this current 'blip' will soon pass.....

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I remember the Diamond Princess.


Slowly at first, then all of a sudden.