> A $1mm 30 year mortgage at 3% fixed means paying $4200 a month I feel like I'm teaching someone to suck eggs but but the price of houses has rocketed in both

> A $1mm 30 year mortgage at 3% fixed means paying $4200 a month I feel like I'm teaching someone to suck eggs but but the price of houses has rocketed in both terms of absolute and relative-to-earnings. Your $1mm house was $300k two decades ago, and $60k two decades before that. 8%/30yr on those sums was affordable. Interest rates of 8-10% were normal in the 90s. Expensive credit isn't the problem.