Is There a Difference Between New Homes and Resale?

For the first time, probably in history, at least that I know of, there is going to be this giant dichotomy between the two now. Virtually everybody in the country, there's about 140 million units in the housing stock of the country. And virtually everyone refinance their house when we have these artificially low COVID fake interest rates. 25% of the country has a mortgage for three decades below 3%. Those people are going to bag, borrow, and steal to never sell that house. They're going to do whatever they can to hang onto those houses. If they get into bad times, which they're kind of unlikely to do because their mortgage is such a low burden.