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Don’t Count on Higher Rates to Stall the Housing Market
Bloomberg, Feb. 23, 2022–Stephen Mihm (subscription)
Real estate prices can be slow to respond to changes in borrowing costs — if they respond at all. Some economists who have documented this history call it “inertia.”
https://www.bloomberg.com/opinion/articles/2022-02-23/housing-market-may-shrug-off-higher-interest-rates