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> While it may signal some cooling, housing is still substantially less affordable than it was pre-pandemic. Yes, and in addition, interest rates are higher, s
by epicureanideal 4y ago
> While it may signal some cooling, housing is still substantially less affordable than it was pre-pandemic.
Yes, and in addition, interest rates are higher, so the monthly payment is dramatically higher.
- beanjuiceII 4y agoyea I was looking to downsize and my payments are actually going to be higher
- darth_avocado 4y agoTo put this in context, the monthly payment for a million dollar loan (something that is almost a necessity in the big cities mentioned in the article), at 3% was 4200/month, but at the current rate of 6.75%, it is almost 6500/month, a more than 50% increase.