The cause of low interest rates are enticing the "would be seller" to re-fi instead of re-sell. Usually the seller takes cash out equity while they reduce their rat rate a point or two.
ON THE FLIP SIDE these would be sellers are now creating a lower of inventory of GOOD homes to go on the re-sale market for the buyers in demand.
So...... on we go with low supply of homes and a Strong demand to purchase. Good old Supply and Demand will start to raise the home sale prices (AGAIN )while the would be Seller stays in their home and lives off of their equity.... here we go again.... BUT this time in years down the road and the Bubble Pops I sure as Hell am not bailing out those GREEDY Banks again.... I will leave the country before I bail out Wall street after they once again sell inflated Mortgaged Backed Securities that are empty with REAL Value. "Teach Your Children Well" Crosby Stills,Nash + Young.
WAKE UP AMERICA... Happy Easter John Curci RE/MAX