Buying a house today costs ~$33,000/yr, 46% of the pre-tax median household income.
Post-tax, homebuyers in the US are spending ~70% of their income on home payments.
Monthly payments are rising everywhere.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) September 2, 2023
Basic necessities are becoming luxuries, the epitome of "free" money from stimulus and 0% rates.
— The Kobeissi Letter (@KobeissiLetter) September 2, 2023
This is what socialism does. It turns everyone poor and only gives a select few wealth.
h/t rimper
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