but answer seens quite obv imo. Rates being decreased.. or atleast to stop rising .
that's my view .opinion.
people are reluctant to buy now as they hope prices will come down more than they have. ..and also as they fear how high rates could go. many are waiting to see how it plays out .
those saving a deposit are thinking. Trend is currently prices dropping and rates going up...why buy now ? better off saving more and waiting for prices to fall further..so buyers have dried up to a degree due to this thinking.
once the Rates have stabilised and the expectation is that next move will be down ..that will be the catalyst. the thought process will be ..obv imo. Its safe to buy now as we know rates wont get out of control..and we better buy soon before prices run too much..so the next Run up begins.
that's my theory.
I think we'd agree that rates are what everybody is watching ..how the future plays ..ofc nobody knows for sure.
