> Despite the bizarre housing market right now, I wouldn't be surprised if on average most people were spending less on monthly payments. To add a supporting a

> Despite the bizarre housing market right now, I wouldn't be surprised if on average most people were spending less on monthly payments. To add a supporting anecdote from my recently finished adventure in house hunting, condos in desirable HCOL areas are also on fire but the demand actually dries up at a certain price point - around 1.3-1.4MM where I live. The most expensive downtown areas (where condos regularly go 2MM or higher) seem to have a massive glut of units and sometimes entire buildings on sale. Personally, I bought a 1MM condo that was originally priced at 1.2MM and had a price decrease. It's not particularly cheap by any means, but it's not significantly more than I would have been paying in 2019, I don't think. edit: A fun way to see this yourself is to use a search on redfin for "price reduced in 14 days" and see which neighborhoods / price points show up in your city. Where I live, it's the pricy condos. Single families still sell at almost any price point, and more affordable condos sell as well.