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Judging by how many families I see living out of RVs in their relative's driveway I don't see things changing to reduce the price or demand. These people can't afford or don't want to pay the outrageous rent prices right now. Rent shouldn't have gone up as interest has been down for so long. It was mostly profitting off high demand. Same goes for real estate. Current home owners love how much their "investment" has gained in value but new home buyers are screwed because, outside of silicon valley, no one's paycheck has risen at the rate of inflation in home prices. Plus the lack of supply in those starter homes is a serious issue.
People love to preach economics 101 but what we have now is super imbalanced and not just simply supply and demand.
So sure a toy like a RV might not be as much in demand soon but considering them as an actual home is going to continue to grow while this crazy inflation continues. So I forsee we are stuck with 100 to 200k vans because there aren't homes at this price without it being in an undesirable location.
Btw this blip in the interest rate is nothing. I'd love to see the feds do something like a 5% increase but they so obviously don't want to screw with the stock market that every near and currently retired person is counting on. That is their golden egg.
Gas price is a psychological issue. People panic over it and don't even understand the how's or why's. Meanwhile they barely noticed how ALL their expenses have gone up to a greater impact than at the pump.
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