In the money markets there is a constant reassurance these days that interest rates are about to come down. This are always exciting news for anyone needing a loan, especially if the loan is for a big ticket item such as a vehicle or a house.

The government plan of increasing interest rates to cool off the real estate market worked well in the Houston metro area market. Houses stay on the market longer and sellers are more willing to negotiate pricing and terms.

However, what is not going to return is the affordability of housing pricing we saw for many years. The increase on the average and median prices over the last few years was very significant. Regular Joes and Janes’ incomes did not increase at that rate. So the expectation for some parts of the population to achieve the “American dream” may be put on hold for a long time, until the income catches up with pricing.