Sounds like a lot of wishful thinking.
A lot of people had to stretch just to get into this market. Grey market loans are through the roof. Those that could not afford the market 2 months ago can afford it less today and less tomorrow when rates go up....
I would hate to be stretched right now - that's all I know. Luckily I am prudent and can weather a 5% increase in rates. Most can't.
Well you kinda illustrated my point... if this last rate hike is the straw that is starting to break the camels back so to speak. If the mortage payments are creeping up and a looming rate hike is coming. The buyer would sell there property right now. It's still a good market so they would be above water and churn out a decent profit.
Thats why I think, those who are dying due to the interest rate hikes will and would have already exited. But I suppose the argument will be there will be a flood of people to saturate the market soon because of these "forced" sales. I suppose only time will tell.