The 30-year fixed mortgage rate just hit 8% for the first time since 2000 as Treasury yields soar

[Fiendish Thingy]

24. That's the problem- thinking of your home as an investment

Over the life of a mortgage, home values generally increase, but the primary purpose of a home is shelter, not investment. (Putting all your cash in one asset class is foolish)

Strictly speaking, The Fed isn’t “the government “, and they aren’t “pricing buyers out of the market”; buyers are only priced out if sellers refuse to lower their prices to what the market will bear…

Again, except in extreme circumstances like the 2008 GFC, most people who have lived in their homes for even just a few years have some equity, and the value has appreciated. Unfortunately, many homeowners buy into the fantasy that their “Zestimate” will never go down, which is unrealistic.

So, the reality is current homeowners who wish to sell may have to settle for a price that is lower than the market value just a few years ago; even then, many homeowners stand to make a healthy profit compared to their purchase price (in some cases, 100,200, even 300% over original purchase price)