Payments have spiked 50%+ in about the missing time period thanks to rate raises. And that 1.5 times average about in line to well below the delta in money prin

Payments have spiked 50%+ in about the missing time period thanks to rate raises. And that 1.5 times average about in line to well below the delta in money printing average in the same time period. The story here is NIMBYism, California Real Estate, Tech, and the "housing shortage". Your data is honed in on the Nation Average and emphasizes the 2020 spike in prices that reflects an exceptional supply constraint in conjunction with a massive(exceptional) migration driver and breakout money printing(none of which speak to a localized housing shortage which would interface conflicts with NIMBYism in a material way). NIMBYism is primarily focused on affluent communities, so low income communities and national averages are fairly irrelevant in arguments pertaining to such(most communities can't lawyer up for long property battles). Most arguments conflating NIMBYism to other issues are calls for Government housing support. Unfortunately most of the data I'm working on is derived from Zillow, which is specific to markets, lagging, and not open for export. Look at the Zillow charts of the average homes in most of the real NIMBY markets(San Mateo, San Francisco, Orange County, Marin, Etc) and you will see a fast dropping Zestimate that is well above the average transaction prices actually conducted in the last few weeks. All while supply is accumulating well outside averages. Debt bubbles pop fast. This one is the beneficiaries of government pumping debt with low interest rates into homes surrounding the growth companies that rode its wave. Tides out, so boats are hitting the shore.