Buying a house in 2019:
$500K Price
Mortgage payment: $1,796/mo. @ 3.5%
Buying same house in 2025:
$900K Price
Mortgage payment: $4,443/mo. @ 6.25%
This is in my area. I’m sure it’s similar in others.
We have a big, unsolvable problem in this country.
If I’m going based on conversations with people in real life:
The consumer is pretty tapped out.
People stretched pretty thin.
Costs of housing, cars, food all pretty much doubled up.
No matter what the data says it just feels like something has got to give.
