I agree. Sellers always fold first because they usually have large mortgages to pay and when interest rates rise, they are doing it hard on a daily basis, whereas buyers can sit tight much easier as they know prices will drop, especially when the banks come calling, and sales are forced.Furthermore, when its twice cheaper to rent than to pay a mortgage, its obvious who will be hurting more. Its just the way these cycles work, and if you have overcommited yourself (which many have) then you will suffer the consequences.
