And that's just the median price across the entire US. In my region, it's almost double the max on this graph. 99% of houses here are at least 500k, with a good majority being even higher (575...600...650). At 6...6.5% interest for a new buyer, it would be at least $3800-$4500 /mo. These are just rough numbers but it paints a grim picture.
I actually think the Trump-era low interest rates hurt the current market because people locked in those low rates and now they don't want to move. Who wants to go from 3...3.5% to 6...6.5%? It's exacerbated the existing housing inventory situation, IMO.
Now do the Northeast. Houses that were built 60 - 70 years ago for $6,000 - $10,000 are now selling in the high $500 mid $600's in middle class neighborhoods. If you dont have 20% of that to put down you get hit again with a PMI tax. Add in the commie school taxes. ITS ALL UNAFFORDABLE!!!!!!!
And that's just the median price across the entire US. In my region, it's almost double the max on this graph. 99% of houses here are at least 500k, with a good majority being even higher (575...600...650). At 6...6.5% interest for a new buyer, it would be at least $3800-$4500 /mo. These are just rough numbers but it paints a grim picture.
I actually think the Trump-era low interest rates hurt the current market because people locked in those low rates and now they don't want to move. Who wants to go from 3...3.5% to 6...6.5%? It's exacerbated the existing housing inventory situation, IMO.
I think he lowers rates to purposely cause a needed collapse then he would come in and reset the economy.
Sauce https://awealthofcommonsense.com/2023/06/the-worst-housing-affordability-ever/
Now do the Northeast. Houses that were built 60 - 70 years ago for $6,000 - $10,000 are now selling in the high $500 mid $600's in middle class neighborhoods. If you dont have 20% of that to put down you get hit again with a PMI tax. Add in the commie school taxes. ITS ALL UNAFFORDABLE!!!!!!!
The word “ Homeless “ comes to mind
As of 10/17/2024 I have paid off my ENTIRE HOUSE NOTE AND CAR NOTE...
NO MORE DEBT AND QUESS WHAT...The wifey doesn't even know!!!!!😎😎😎😎
I will be telling her on OUR WEDDING ANNIVERSARY with a card and the form inside that shows the balance as $0.0...WOWZA!!!!!!!
And this is why I paid off the NOTE because the damn thang wasn't going anywhere due to the interest being ACRUED and the DEMS/REPUBS KNOW THIS!!!!!
NOTE: The repubs/dems DON'T WORK FOR THE AMERICAN PEOPLE, THEY WORK FOR THEMSELVES.