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It always drive prices higher.
Always is a strong statement but yeah thays how it generally collerates
We’re in an era where corporations are buying housing at an unprecedented rate.
They have deep pockets, so even though the people holding mortgage will see relief, we will also see more housing bought by corporations.
The normal person cannot compete with the corporations, and they will have to either outbid the corporation, or hope that the seller find their story touching and sell them the house even if the bid is lower.
So yeah, prices will raise for sure.