Look at the chart. 2.9% in Feb 2022 to over 8% today. Home prices would have to drop 32% just from today’s prices to pay the same as you would have in 2021. This is insane. Forget overvalued, this market is collapsing….
fred.stlouisfed.org/series/MORTGAGE30US
Could you even imagine having to sell a house right now. No buyers even qualify, even if they were insane enough to pay these prices…
BREAKING: Home ownership is now unaffordable in 80% of US counties, per ATTOM.
— unusual_whales (@unusual_whales) October 2, 2023
h/t Tonight We Ride!
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