[logicfiction]

It's a bit more complicated though, interest rates are part of that function too.

Low prices & low interest rates: great for new entries to homeownership, but would require a surplus of housing Low prices & high interest rates: great for those who buy property with cash (wealthy people and corporations) High prices & low interest rates: great for existing owners High prices & high interest rates: generally bad for everyone except those able to offload existing housing thy own