The “common” investor may think this or perhaps they think that regardless if this is the truth or not the market is going to react a certain way. I believe that with worldwide interest rates at unprecedented low levels and the dollar as high as it is the US is not going to be able to bump rates up quickly at all. I believe rates will have to stay low for years. Europe, Japan, many other countries are stuck in a low rate environment.
Makes sense to consider your own position on interest rates but this is the information I am acting on when I pick equities like LGIH for my portfolio.
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