prices have gone up for us here and I think they will not see any huge spikes but will continue to go up gradually.

The private group I've been working for is gradually selling off property and retiring.  

The ideal scenario in regards to interest rates is that the economy recovers slowly so that inflation comes in gradually.

A lower interest rate on the underlying mortgage will improve rates over time (which is why the red line gradually moves closer to the blue line).The OP also asked a great question that went unanswered... what about credit and buying power?

I hope they make a change gradually instead of trying to do everything in a single stroke of a pen.

An example: Home formerly listed (expired, off market, etc.) at $350K (history shows originally listed at $395K with gradual price changes to $350K), you negotiate and place under contract for $300K, you sell (to retail buyer) for $325K.Of course, this is a generic example but in this case, a history can help you.

We are thinking to raise the rent from $1200 to $1500 now and then raise it up gradually to meet market value.

Then I could fix the major items first, and gradually keep making improvements as long as they continued to keep paying rent. 

But in 1925 the Walt Whitman Bridge to Philadelphia opened and the gradual exodus of money began.  

Why can't we attempt to make substantial changes gradually?