Everything Old is New Again

"The New Normal" is a phrase I try not to use, mostly beause it's overused but does seem appropriate now, both for good & bad.  There is a generation of home buyers & sellers who've only known very low interest rates that make home buying much more affordable (good) & a high pressure atmosphere for buying & selling homes (bad)

Now, Buyers are feeling no pressure to make a decision, can actually go on home tours with a few homes that meet their home buying criteria, & write subject offers.  All good.

However, they can't believe they have to pay a 5% interest rate on their mortgage (the old normal). Bad. Those of us who bought & sold real estate before 2000 only knew 5% interest, or even higher.

Looking like a few years of this new, but old way of doing real estate.  What's that phrase?  "everything old is new again"

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