High interest on its own isn’t great but in some ways can be easier to grapple for first-time buyers, because while it does make for larger monthly payments it

High interest on its own isn’t great but in some ways can be easier to grapple for first-time buyers, because while it does make for larger monthly payments it doesn’t raise the bar to entry the same way that high prices do with down payments. Low home prices with high interest can be manageable, as can high home prices with low interest. High prices and high interest is a tough combo. On top of this, even if prospective buyers are considering less desirable neighborhoods further from place of work, the used car market is still a mess with anything that doesn’t already have a foot in the grave (and thus, is a reliable efficient commuter) carrying an inflated price, which chips away at the savings that can be had there.