[msegal]

Rents will increase, your mortgage will not if you're locked in. The resale value of your house will be pushed down by reduced affordability, but pushed up by higher rents and cost of goods. Ultimately owning a hard asset in an inflationary period is a good idea.

[debacle]

The value of most residential property is tied to demand, and demand is tied to interest rates and ability to borrow. If most people can't borrow 300k+, most houses are going to see a drop in value.