I am not sure the cheaper interest rates make much difference. When interest rates went from 9% to 18% they double and people were spending twice as much on interest. There are some 2 and 3% variable rates out there that would double if interest rates went to 6% and I think that would be similar to going from 9 to 18%. A lot of us have paid high prices for land because interest is cheap and I am not so sure how much of that land has been bought with an interest rate that is locked in. |