Short, Intermediate, And Longer – Term Impacts On Home Sales, When Rates Rise!

For many reasons, some, economic, while others, related to the pandemic – related, so – called, fatigue, etc, home prices, in most areas, have gone up, at, or, near, record amounts! Because of the prolonged period of artificially – created, low – interest rates, mortgage rates, have been at historic lows! Since, for most home buyers, using financing is essential to affording a purchase, when a low rate, causes cheap money, and, thus, the ability to afford more home – for – the – buck, prices usually rise! It permits qualified buyers to qualify for more money/ loan, because the ratio of monthly mortgage, to overall income, is artificially – reduced! How long will this trend continue, will it become the new – normal, will previous trends/ cycles return, and how will pricing be affected, in the immediate, intermediate, and longer – run, are, all factors, to consider! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, some possibilities, to consider, and understand.

1. Short – term: Since, the Federal Reserve Bank, announced, they planned to raise rates, three times in 2022 (of course, this was before the potential implications, and ramifications, from the Omicron variant), many feel pressure, to act quickly, to take advantage of today’s low rates, before they go up! Three increases will probably translate to, at least, a 0.75% higher rate, which will translate, for most mortgages, to hundreds of extra dollars, per month. Some things to consider, and pay attention to, is, this rate of increased home prices, will, probably, not continue, especially, at such a large degree! How longer one, expects to keep a specific house, is, one issue, to consider, thoroughly, and wisely, before proceeding!

2. Intermediate – term: Although, many believe, to – know, the precise timing of any projected rate – hike, is uncertain! The Fed has changed, and/ or, altered its strategies and approaches, in the past, What the intermediate – term, may bring, including potential inflationary pressures, how long the economic conditions, and unknown factors, related to the pandemic, etc, will determine, largely, what this phase, may bring! In addition, the attitude, and perceptions of buyers, and their confidence, etc, largely impact this real estate market!

3. Longer – term: In the longer – run, will things, restore, to what we have seen, so often, in the past, which is, alternating cycles, between, Sellers, Buyers, and Neutral Markets? The possibilities, include: a continued large escalation; a more – gradual, but persistent – one; some leveling; and/ or, will we see, at least, in certain areas, some sort of falling prices, for a period.

Experience the Elegance of Venice Through Private Tours to Venice

Venice is without a doubt, one of the most beautiful cities in the world, as evidenced by the countless literary masterpieces that the city has inspired. It is for this reason that private tours to Venice are so popular, especially for those who want to experience the city’s infectious romantic vibe. The Floating City, Venice is best known for being built on water. In fact, no car can access the city and canals lead to everywhere you want to go. Venice comprises of some 118 islands, interconnected with countless bridges and winding canals.

Private tours to Venice are even more enjoyable with at least a few hours spent on a Gondola ride. These small canoes are ubiquitous in the city and they are definitely the best way to get around, especially if you want a unique view of the city through the waterways. This said, walking tours of the city’s centuries old streets are also very common, especially for those who want to admire Venice’s rich collection of Gothic architecture that dates back as early as the Byzantine and Ottoman periods. Ca’d'Oro the Doge’s Palace, and Palazzo Cavalli-Franchetti are only among the must-see architectural marvels in the city.

Surrounded by water, it is no surprise that Venice is also a huge seafood haven. If you want to try a different side of Italy’s cuisine, Venice is definitely a great place to sample its seafood delights. The city doesn’t run out of fresh supply of fish, shellfish, and other seafood favorites hauled out from nearby lagoons.

Private tours to Venice are also not complete without a visit to the Burano Island, which is one of the most iconic fishing villages in the region, known for its floating houses that paint a rainbow-colored backdrop for your excursion. Another interesting island to spend a tour in is Lido or the Golden Island, which is best known for its private beaches and golden dunes.

About the Author

Italy Luxury Tours is the go to source for Exclusive Private Luxury Tours of the Italian Peninsula and its Islands. We provide Italy Private Tours, Enogastronomic Food and Wine Private Tours in most Italian Regions, Italy Off The Beaten Path Private and few selected Sport and Adventures Tours. All our Tours are fully customizable to suite your travel needs, interests and dates. Italy Luxury Tours specializes in delivering Italy Custom Tours where we will create your itinerary from scratch.

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