The cost to buy is surging far beyond renting. Income needed to buy a house now dwarfs median U.S. income, making the subprime bubble seem minor by comparison.

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https://imgur.com/cost-to-buy-significantly-outpacing-cost-to-rent-now-posted-response-to-rental-price-increases-VMXMPkM

Over 60% of homeowners go into debt for renovations they wish they hadn’t done

High home prices and mortgage rates keep many American homeowners from moving to a new home. More than 6 in 10 say they’d prefer to remodel their current home rather than move to a new one, according to a new survey of 1,000 homeowners from Clever Real Estate.

They’re not letting financial constraints stop them from customizing their living space. Around 40% of homeowners plan to spend $10,000 or more on renovations in 2025. However, nearly 80% of homeowners went over budget on their last renovation, and two-thirds went into debt to fund home improvement projects.

They can’t predict anything:

When Will the Housing Market Crash? Economists Don’t Foresee It in 2024 or 2025

 

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