Agreed!

IF, again IF, the U.S. can bring back its manufacturing, and provides uptrend salaries for its working class, the interest rate should back to normal if not over shooting.  When the 30-year mortgage rate bounces back to its historical level, around 7% to 10%, we may start talking about the housing bottom.  Anyone assuming our current 3% 30-y mortgage rate to stay, he/she is dreaming U.S to become another Japan.