"How much house one can afford at various interest rates assuming a $3,000 mortgage payment"

https://realinvestmentadvice.com/deception/

The Federal Reserve is not currently forecasting a recession

Ben Bernanke, 2008

"Over the past two months U.S. mortgage rates increased almost a full percent from 3.50% to 4.375%.

The higher the interest rate, the less house one can afford

Given such an increase, a prospective homeowner determined to limit their mortgage payment to $3,000 a month would need to seek a 10% reduction in the price of a house. In the current interest rate environment, this equates to drop from $668,000 to $601,000 in order to achieve a $3,000 a month mortgage payment. 

The value of a lot of homes just went down,

and most don't know it

One would expect that homebuilders temper their optimism, given that a key determinant of housing demand and ultimately their companies’ bottom lines is facing a sturdy headwind."

Same goes for auto loans;

http://www.zerohedge.com/news/2016-12-21/auto-industry-slowdown-signaling-trouble-ahead-overall-economy

Meanwhile in subprime land;

The higher interest rates go, the more the same priced house costs = Falling demand = Lower housing prices

http://greensboroperformingarts.blogspot.com/2016/12/the-higher-interest-rates-go-more-same.html

Real Estate Bubble; "Rates have now moved nearly a half a percentage point higher since Donald Trump was elected president"

http://greensboroperformingarts.blogspot.com/2016/11/real-estate-bubble-rates-have-now-moved.html

Consumer Credit as a % of Disposable Personal Income = Spending More Than We Make

http://greensboroperformingarts.blogspot.com/2016/11/consumer-credit-as-of-disposable.html

Doug Casey; "We’re at the peak of the biggest financial bubble in world history"; "Sell all your bonds"

http://greensboroperformingarts.blogspot.com/2016/12/doug-casey-were-at-peak-of-biggest.html

The perversity of disinformation "Look for Tanger Center in 2019"

http://greensboroperformingarts.blogspot.com/2016/12/the-perversity-of-disinformation-look.html

News and Record's fake news on the megasite, which isn't in Greensboro or even Guilford

http://greensboroperformingarts.blogspot.com/2016/12/news-and-records-fake-news-on-megasite.html

Say Yes to Education only different; Dallas Pension Board stops $154M in withdrawals"

http://greensboroperformingarts.blogspot.com/2016/12/say-yes-to-education-only-different.html

The cowardice of Greensboro News and Record's Doug Clark and Allen Johnson

http://greensboroperformingarts.blogspot.com/2016/11/the-cowardice-of-greensboro-news-and.html