Housing Prices Continue Slide

Housing prices continue to fall, and interest rates are above 5%.

Will rising interest rates keep buyers away or make buyers act fast before rates go even higher?

My thought is that rising home prices need rising wages for workers. We are still in an environment where companies aren't hiring. Profits are up, but there hasn't been a need to increase payroll or compete for talent with higher wages and benefits.

Until people have more money to spend, they won't be chasing home prices. In addition, people were recently stung with bear markets in housing and stocks. Who could blame anyone for waiting for a better deal rather than chase prices higher?