WSJ Article Concerning "Buyer Remorse"

This is a great article in the Wall Street Journal about the Manhattan real estate market. New York is obviously a very different animal than DC but I think some of the points he makes are applicable anywhere. When outlining some good things to think about before jumping into homeownership my favorite point the author makes is concerning interest rates. "Think about the connection between interest rates and prices. If prices come down another 10% but interest rates increase by 1 percentage point, that would mean the same monthly payment today versus waiting."