We have no idea what will happen. The Fed's loose money policy has put us into unknown financial territory. Dump trillions of dollars into the economy, and the price of everything will go up. What is actually happening is the price of the dollar is going down.
I had a discussion last month about a Jersey cow. In 1955, we separated the cream and sold the butterfat to a local creamery. That one cow produced $600 worth of cream in one year. I was curious how much that would be in today's dollars, so I plugged it into an inflation calculator. It turns out that $600 in 1955 was worth $6000 in today's money, and that was with a consistently conservative fiscal policy.
If the dollar can lose 90% of its value since I was a kid, it can lose 90% of its value in the term of a 30 year mortgage. Maybe the market will tank and good deals will appear, or maybe the fiscal death spiral will continue and holding dollars will be the wrong move. Your guess is as good as mine.
Not to be a weenie, but the average household income in 1955 was around $5k a year. Today it's over $78k a year.
But back then, the woman of the house didn't have to get up every morning, get the kids ready for work, make breakfast for everybody, make sure her husband actually put his clothes on right (if at all), get herself ready for work drive there for a half-hour, spend between 9 and 12 hours there and drive home. Very often leaving the house when it was dark and getting home when it was dark. Then clean the house or, at leaat tidy it up if she's lucky enough to afford a house cleaner once a Month. She gets to do the clothes too and make sure she picks up all their snowflakes from some absurd charter school (that's about as useless as a screen door on a submarine) do the clothes, the dishes..... And don't get me started on all the 'sports' leagues for chilluns. disturbing
The problem is, we all want nice things. We want to bring our children up somewhere safe, somewhere that doesn't have shootings ever week, somewhere that doesn't have a drug pusher on every street corner and predators in the park. You'd think that people would have enough sense to vote the scumbags that allow that to happen out of office but, they don't. I know why but it will offend too many people; because the truth always does
So what they do is what people have always done when faced with extreme adversity -- They run.
To the 'burbs, to the near-country. And that costs money. Lots of money. So mama usually pays the price. So does Dad and so do the kids because the woman, who makes the family work, isn't around enough.
It is what it is. It won't change in my lifetime and probably not in the lifetime of anybody that's in here.