Home buying companies unable to unload their inventory.
(www.wsj.com)
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Awful. A two bedroom apartment here is 2800/month. Where my son currently lives (Midwest), it's 900 for a large two bedroom.
Oh wow. That's good for a 2 bedroom these days. I remember before we bought our house 20 years ago, we had a 2 bd 1 bath apartment for 425.00 per month. Now my mortgage is less than the current rent on the same apartment. All I can say is thank God my wife and I busted ass with a couple of jobs to save our down payment back then. No way we could afford a house today.
I know. I feel bad for the twenty and thirty somethings today. On the other hand buying a house when my husband and I were in our late twenties was not easy either. Interest rates on mortgages were 15 to 17 percent. We're savers though (mostly my husband), and got an assumable mortgage, which required a hefty down payment.