IF the Fed pivots before inflation is under control, everyone knows what will happen next. I for one will be buying real estate soon and rates at 6-7% aren't stopping me. Now imagine when they drop below 5%... a large number of people will re-enter the market in hopes of finding a home. This will drive a new round of real estate inflation. Thus, I'm with TheEye. The FED has to keep rates up for an extended period of time to burn off the demand. At worst, it allows wages to catch up to this round of inflation.