It is interesting that you include "stock market" in your list. Can you pick a period where the stock market went up (or down) for an extended period that was not "asset inflation (or deflation)"? To be clear, yes, financing rates will always impact financial assets (stocks, bonds, traded commodities) in the short term, but not over a ten year period. You need real earnings growth in the underlying stocks to see sustained stock market growth.
Crypto is gambling to me, so let's ignore that for my post.
Housing is mostly about debt financing (the same is true for commercial real estate). It is always true that financing rates have a large impact on valuations. People mostly buy homes on the monthly payment (cars too). If rates rise, they monthly payments rise. Most people will elect to buy a cheaper home, or wait for prices to fall.
Crypto is gambling to me, so let's ignore that for my post.
Housing is mostly about debt financing (the same is true for commercial real estate). It is always true that financing rates have a large impact on valuations. People mostly buy homes on the monthly payment (cars too). If rates rise, they monthly payments rise. Most people will elect to buy a cheaper home, or wait for prices to fall.