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I’d be interested in seeing the total cost after accounting for interest in the loans, or monthly cost compared to monthly income. Most people don’t pay cash, a
by mint2 5y ago
I’d be interested in seeing the total cost after accounting for interest in the loans, or monthly cost compared to monthly income. Most people don’t pay cash, and they pay more than the asking price due to interest. So high interest rate periods look artificially lower because they ignore a substantial amount of the price
- thehappypm 5y agoVery true. The 2008 housing bubble did not have low interest rates. 30 year average was around 6%. Now it's under 3%. That 3% makes a HUGE difference in purchasing power.
- gruez 5y agoExactly. https://awealthofcommonsense.com/wp-content/uploads/2021/03/Screenshot-2021-03-20-101503-1024x741.jpg https://awealthofcommonsense.com/wp-content/uploads/2021/03/... That said, it doesn't do much for down payment.
- SubiculumCode 5y agoThis is very interesting but I wonder if the housing crisis is not reflected in that chart because it's an average of presumably average American mortgage rates. What about California mortgage rates? I'd love to see that last chart restricted to California where the prices have skyrocketed.
- SubiculumCode 5y agohttps://www.corelogic.com/wp-content/uploads/sites/4/2021/06/lepage_mtg_fig3_large.png https://www.corelogic.com/wp-content/uploads/sites/4/2021/06... Here is the same chart but for California regions
- rossdavidh 5y agoInteresting, but that chart appears to end in 2016?
- mediaman 5y agoYour other post is dead for some reason so I am reposting the chart you posted, showing mortgage cost per month for areas of California: https://www.corelogic.com/wp-content/uploads/sites/4/2021/06 https://www.corelogic.com/wp-content/uploads/sites/4/2021/06...
- throw0101a 5y agoCorresponding post: * https://awealthofcommonsense.com/2021/03/what-if-housing-prices-arent-as-high-as-they-appear/ https://awealthofcommonsense.com/2021/03/what-if-housing-pri...