The housing market is abuzz with speculation that rising interest rates will tame increasingly runaway housing prices.
After all, rates are already creeping up from rock-bottom historic lows in anticipation of the Fed easing back from its multitrillion-dollar rate manipulations.
But Calculated Risk's Bill McBride just took a sledgehammer to that argument.
In this post, McBride throws out numerous cases in the past three decades in which rising rates - even rate spikes in some cases - have done little if anything to bring down home prices.
And if that's the case, then we really have a big problem on our hands, especially here in bubble-prone, perpetually-price-inflated Greater Boston.
What's your take on rising rates? Will higher rates cool down prices as we head into 2014? Will this time be different?
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