Housing has gotten ASTRONOMICALLY more expensive in the last 3 yrs. Most are locked in, so much of this isn't felt....yet.
Median Mortgage 1990👇
$123k @ 10% = $1,240/month
Median Mortgage 2020👇
$309k @ 3% = $1,293/month
Median Mortgage 2023👇
$405k @ 7% = $2,549/month🤯
That’s why mortgage rate applications are at alts. Not many can afford to make that monthly payment
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