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Hannity says the .75% interest rate increase will cause home prices to plummet. He’s nuts.

Posted by John Reed on

Hannity just said home prices will plummet due to interest rate hikes. Was this idiot in a coma in the 1980s?
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Here are home prices from that period from my book https://johntreed.com/products/an-american-principal-residence-is-the-most-advantaged-investment-on-earth-maximize-yours and mortgage interest rates from that period from my book Best Practices for the Intelligent Real Estate Investor https://johntreed.com/collections/real-estate-investment/products/best-practices-for-the-intelligent-real-estate-investor
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year interest rates home price
1970 8.56% $24,002
1971             $25,787
1972             $26,900
1973             $27,551
1974             $28,790
1975             $32,034
1976             $33,693
1977 9.00% $36,607
1978 9.70% $42,044
1979 11.16% $48,814
1980 13.95% $55,074
1981 16.55% $59,035
1982 15.82% $61,891
1983 13,44% $62,408
1984 13.81% $54,341
1985 12.29% $68,432
1986 10.09% $73,736
1987 10.17% $89,829
1988 10.31% $86,968
1989 10.22% $93,343

In those numbers, the rates rose from 1970 to 1981. When did home prices fall in the 1970-1989 period? Never. And those rate increases far exceeded the .75% Hannity was talking about.
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Sean Hannity has no idea what he is talking about and apparently has no staff to check on a bombshell prediction like home prices will plummet before he makes it.

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