3 ms·

Mortgage rate races toward 8% after hitting a high not seen since late 2000

• adamredwoods 3y ago
  I was able to afford a house 5 years ago, but now I cannot afford this same house if I were to buy it today. IMO, that's not how home-owning should work. Something seems broken. To make matters worse, if the interest rates do drop, I have a feeling many more people will start buying homes, driving home costs up even more.
  • nh23423fefe 3y ago
    Why would you say something is wrong with home owning. Why are you surprised that market conditions change over 5 years?
  • harambae 3y ago
    Anecdotally, I've talked to more and more coworkers over the past year who say that either they or their parents are taking a significant pay cut to just move back to their country of original (often India) because the cost of living is so high now in the USA. I'd be interested in looking up real statistics on this - maybe it's significant, maybe not. It probably has't been going on long enough to really be reflected much, and of course my group of friends could be atypical (Boston, here only for work with little other social ties).