I miss John Prine. He wrote some of the best lyrics of any song writer. Ever. During one of his live recordings of “That’s the Way the World Goes ‘Round,” he tells a story about a woman who came up to the stage while he was performing in San Francisco and asked him to play the “Happy Enchilada” song. John replied, “I never wrote a song about an enchilada, let alone a happy one. I think you might have me mixed up with someone else.” She was insistent that it was one of his songs, so he asked her how the song went. With that, she started singing “It’s a happy enchilada, you think you’re gonna drown, that’s the way the world goes round.” John, in a deadpan reply, said, “Oh, that one. I’m glad you like my lyrics.”

The actual lyrics to the song go “It’s a half an inch of water, you think you’re gonna drown.” The meaning, of course, is that people have a tendency to see the worst, when the issue at hand is really not as bad as it might seem.

I’m of the mind that a similar thing is happening in the real estate market. Interest rates have spiked, there’s no denying that. But when you look back at historic levels, 6% to 7% rates are perfectly normal. That’s right around where we are today. Everyone knew that the artificially low rates we enjoyed over the past decade could not last forever; and they are not coming back any time soon.

Bearing that in mind, I took the liberty of writing my own refrain to John’s classic tune (my apologies, John):

That’s the way the world goes ‘round

Rates go up, sometimes their down

Six-point-five of interest, makes you wanna frown

That’s the way the world goes round

If you are in the market for a home, take the plunge. Enjoy all the benefits of home ownership, and it will provide you many years of happy memories as well as long-term appreciation.

You can hear the actual song here: https://www.youtube.com/watch?v=PnMNBTc1DQU

And read the actual lyrics here:

I know a guy that's got a lot to lose
He's a pretty nice fellow, kinda confused
Got muscles in his head, ain't never been used
Thinks he own half of this town

Starts drinking heavy, gets a big red nose
Beats his old lady with a rubber hose
Then he takes her out to dinner, buys her new clothes
That's the way that the world goes 'round

That's the way that the world goes 'round
You're up one day, the next you're down
It's half an inch of water and you think you're gonna drown
That's the way that the world goes 'round

I was sitting in the bathtub, counting my toes
When the radiator broke, water all froze
I got stuck in the ice without my clothes
Naked as the eyes of a clown

I was crying, "Ice cubes", hoping I'd croak
When the sun come through the window, the ice all broke
I stood up and laughed, thought it was a joke
That's the way that the world goes 'round

That's the way that the world goes 'round
You're up one day, the next you're down
It's half an inch of water and you think you're gonna drown
That's the way that the world goes 'round

That's the way that the world goes 'round
That's the way that the world goes 'round