2 ms·
Here is some more perspective I found interesting: | Category | 2019 Averages | 2023 Averages | % Change | |------------------|---------------|----
by anonu 3y ago
Here is some more perspective I found interesting:
| Category | 2019 Averages | 2023 Averages | % Change |
|------------------|---------------|---------------|----------|
| Home Price | $260,000 | $436,000 | 68% |
| Mortgage Rate | 4% | 7.5% | 88% |
| Monthly Payment | $1,700 | $3,700 | 117% |
| Income to Qualify| $60,000 | $115,000 | 91% |
Higher median home prices and higher rates means you need to nearly double your income to qualify - while you'll be paying more than double every month to afford it.
- latchkey 3y agohttps://www.statista.com/statistics/1117465/downpayment-home-buyers-usa/ https://www.statista.com/statistics/1117465/downpayment-home... 2019: 15,737 2023: 28,000 +56% Adding in the downpayment is more interesting to me because that is also a factor of having savings. When I lived in SF, I had a good high paying job, but I didn't have the $200-250k downpayment. I couldn't even get a shitty house in the avenues. I spent a year looking for a place and finally gave up.