Home price-to-income ratio surpasses 2008 housing bubble. US median home price rises 38% since 2020, mortgage rates is up from 2.7% to 7.1%. They will kill houses?

https://t.co/HalIfhU6gE

— Win Smart, CFA (@WinfieldSmart) July 19, 2023

The median home price in the U.S. is up ~38% since 2020.

The average interest rate on a 30-year mortgage is up from 2.7% to 7.1% in ~2.5 years.

The average mortgage payment on a 30-year mortgage is now $2,900.

Could you afford to buy your home, today?

Most people couldn't.

— The Kobeissi Letter (@KobeissiLetter) July 18, 2023

Mortgage purchase index -1.3% for last week

This chart is not a housing soft landing. pic.twitter.com/3UqD8PORl0

— Don Johnson (@DonMiami3) July 19, 2023