On Another NoteThe long awaited housing bubble burst is gaining strength every day, the 10 year bond the bell weather for mortgage rates is climbing quickly. Inflation in the U.S. is 4.99% and gaining momentum. Nobody in their right mind will buy a bond 3.5% below the inflation rate for long. All the people that know about these things are saying prime interest rates could be as high as 7.5% within 12 months. This would put a 5 year mortgage at 8.5% to 10.5% depending on eaches credit rateing. This in turn removes a substantial percentage of those thinking of buying out of the market. The three pillars of continued strong housing are low interest rates, supply and demand. Two of those three pillars are being removed from the market right now, increasing interest rates and far fewer people able to qualify for a mortgage. Now those that bought on speculation or those that bought the max they qualified for will be in a world of hurt in short order. Inflation here in Canada is far worse than the U.S. and when the U.S. passes those two bills being worked on now will only add to the hyper inflation. In my opinion we are in for an ugly few years in the housing market. Luck all and I hope none of you are in over your heads. I expected this to happen two years ago but covid slowed it down and likely made it worse because more people are now caught between a rock and a hard place. I wish the best for everyone.