In some markets, sure. However if you look at median home prices from 1980 to today and factor in interest rates (which are much lower today) and median income

In some markets, sure. However if you look at median home prices from 1980 to today and factor in interest rates (which are much lower today) and median income then you see that homes are about the same as they were in terms of monthly payment. With the upside today that early in your mortgage more of your payment goes to principal. If interest rates were to go to 8% overnight, besides crashing the global economy you’d see home prices cut in half. Homes are priced at what people that want to live there are able to pay per month. As interest rates fall home prices rise. Like I said certain markets have outpaced but their median incomes have outpaced as well. This makes sense as the upper middle class has grown a lot the last 40 years to make up much more of the population by percentage (there’s a lot more high paying professional jobs today) and people like to live among people of similar financial classes for obvious reasons.