That is assuming interest rates will go lower. This is not guaranteed, and this risk is something people need to account for instead of assuming we’ll go back to a decade of basically-zero interest rates.

The last 15+ years of interest rates have arguably been very unusual because the fed lowered them in response to multiple recessions since the 90s but didn’t/wasn’t able to raise them to pre-recession levels.

We’re now in a weird situation where they showed that they can raise rates with very little short-term impact. There’s little incentive to lower them to spur economic growth.