Housing Market Reaching ALL TIME LOW Affordability
Only 6 months ago, a homebuyer with a monthly budget of $2,500/mo could have bought a house that cost $517,000. Fast forward to today mid June 2022 and that same home buyer can only afford a house that costs $399,000. Home buyers have lost $120,000 in purchasing power in the span of 6 months. That is a massive difference in affordability and its all due to the rising mortgage interest rates.
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Articles mentioned in the video
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