3 replies to this topic

[CLK]

I don't think people can continue
paying 9% inflation and median home prices continue up, up 35% in 2 years and next year over 500k if this keeps going. Way over 2006 bubble highs now. I don't know WHEN it's going to turn, but this can't continue or people will be working 80 hours to pay for 800k homes.

Edited by CLK, 12 August 2022 - 10:04 AM.

[12SPX]

I wish I could put up this chart I saw comparing disposable income compared to home prices.  In the US its stayed similar but up here in Canada, wow the spread is massive!!  The average mortgage up here is currently 600,000 so how do people keep up with that!!!   

[qqqqtrdr]

People cannot keep up...    Car prices are also a big thing that it is a killer....    I have 5 GenZs living with me and it seems impossible for them to get a footing on making it on their own with all the Millennials also trying to come out of the basement of their parents house.   

[pdx5]

When mortgage rates were 2.75% last year, one could buy $750,000 home for monthly payment of $2700.
My daughter & SIL bought that home 2 years ago in Seattle and their monthly payment was same as their 1 bed room apartment in Silicon valley.
Same home at 5.5% mortgage will result in monthly payment of $5300.

Edited by pdx5, 12 August 2022 - 10:09 PM.