Welcome to the Most Complicated Housing Market
Welcome to the most complicated housing market.
More than 60% of homeowners with a mortgage have a rate below 4%.
This is the primary reason given for why the housing market won't crumble, but costs have exploded, and wages have not kept up with inflation.
It's not just about your mortgage payment. What's an even more relevant metric is how much your paycheck is going toward all costs(healthcare, food, education etc). The average consumer has much less money to go toward housing costs.
Many are banking on lower rates saving them, and I think we’re in for more super low sales cycles for the foreseeable future.
More than 60% of homeowners with a mortgage have a rate below 4%.
This is the primary reason given for why the housing market won't crumble, but costs have exploded, and wages have not kept up with inflation.
It's not just about your mortgage payment. What's an even more relevant metric is how much your paycheck is going toward all costs(healthcare, food, education etc). The average consumer has much less money to go toward housing costs.
Many are banking on lower rates saving them, and I think we’re in for more super low sales cycles for the foreseeable future.
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