This is absolutely correct. Let’s assume a hypothetical 30 year old who bought a house at the absolute peak of 30 year fixed interest rates, 16.64%. The media

This is absolutely correct. Let’s assume a hypothetical 30 year old who bought a house at the absolute peak of 30 year fixed interest rates, 16.64%. The median US home price was $70,400. Assume 20% down. Let’s also assume a hypothetical 30 year old buying a house in 2023. 30 year fixed rate is 7.00%. The median US home price is $417,700. Assume 20% down. Looking up inflation, a 1981 dollar is 3.37 2023 dollars. The 1981 homebuyer pays 57% of the 2023 homebuyer’s down payment, and only pays 19% more each month. And that’s cherry-picking the absolute worst time to buy for that generation. Down payment 1981 (inflation adj.): $47,440.60 Monthly payment 1981 (inflation adj.): $2,650.50 Down payment 2023: $83,540.00 Monthly payment 2023: $2,223.17