I agree. Boomers like me enjoyed the pump from continually declining mortgage rates from the late 1980s until the bottom was reached at peak covid. From here forward however, interest rates will be stuck in a lowish range and there is no room for the pumping that the constantly declining cost of debt 1990-2022 drove. House prices will be generally stagnant. There is a fair chance of decline in property prices as people gradually realise these dynamics and the perceived 'need' to own is disproved. All that said, if you want security of tenure ownership still has advantages.
I agree.
Boomers like me enjoyed the pump from continually declining mortgage rates from the late 1980s until the bottom was reached at peak covid.
From here forward however, interest rates will be stuck in a lowish range and there is no room for the pumping that the constantly declining cost of debt 1990-2022 drove.
House prices will be generally stagnant.
There is a fair chance of decline in property prices as people gradually realise these dynamics and the perceived 'need' to own is disproved.
All that said, if you want security of tenure ownership still has advantages.