Median income has been stagnant and actually gone down because of inflation.
Meanwhile housing has skyrocketed as have interest rates.
The difference between a monthly mortgage payment at 3% and one at 8% can be staggering. For a median-priced home that costs $416,000 with a 20% down payment, your monthly mortgage with 3% interest is $1,403. At 8% interest it's $2,441.
And with food, gas, and utilities that have gotten out of control, you think anyone can afford this?
They are destroying the economy on purpose.
Meanwhile housing has skyrocketed as have interest rates.
Saving money to buy a house? Your dollar goes half as far as it did at the end of 2020, new data shows
Housing affordability drops and buyers shed buying power as home prices climb and mortgage interest rates hit long-time highs.
www.nbcnews.com
The difference between a monthly mortgage payment at 3% and one at 8% can be staggering. For a median-priced home that costs $416,000 with a 20% down payment, your monthly mortgage with 3% interest is $1,403. At 8% interest it's $2,441.
And with food, gas, and utilities that have gotten out of control, you think anyone can afford this?
They are destroying the economy on purpose.