Houses on sale

One of the things that's always been hard for me to understand about economics is the whole buyers market/sellers market thing. Like if the rates are low, then it seems like people would want to look into purchasing homes. But at the same time, how are they going to sell their previous home if rates are low and there are so many homes to choose from? Does that make any sense?

Not to mention, if rates are low, that means things aren't going so well in the economy. Which means no one has any spare money, and everyone is looking into mortgage refinancing. People can't afford to move, so they hope to just save money on the place they already have.

I know that if Stephen hadn't gotten that new job, that's what we'd be doing about now. And we actually got some pretty good mortgage rates when we bought our house about 18 months ago. Seriously, the highest rate we're paying right now is 7 percent and that's on a loan that we used for home improvement.