Housing Boom June 2023 - Return to "Normal"

After watching home prices and average home interest rates I believe we are currently in the Bull Trap of Jean-Paul Rodrique's "Phases of a Bubble" diagram as shown below. The "New Paradigm" happened last June (2022). We still have Denial, so maybe we aren't at the bottom yet. I predict this Spring to Summer we will enjoy a stunted Return to "Normal." It will be stunted by the context that in the Public Enthusiasm, Greed and Delusion phase, home interest rates dropped to 2 - 3%. Now ≈ 6.5%.

​Take some time to study this chart.

How much does an increased 4% home interest rate affect things? I don't think people will be able to sell at the high they had in June 2022. But I think a lot of people will be playing a game of trying to offload their assests as close to the previous peak as possible. 

I have anecdotal evidence for much of this, which is why I don't take this too seriously. Sometimes I feel like an average Human Being Bellwether.