Housing affordability has been absolutely crushed over the past decade.
10 years ago:
• 30-yr mortgage: 3.4%
• Median home price: $250k
• Monthly payment: $887
Today:
• 30-yr mortgage: 6.7%
• Median home price: $446k
• Monthly payment: $2,302
That's a 160% jump in monthly payments. Plus you need an extra $39k just for the down payment.
Wages haven't kept pace. Not even close. This is why an entire generation feels locked out of homeownership — because they literally are. The math doesn't work anymore unless you had a head start or got lucky with timing.
People love to blame avocado toast and entitlement. Reality is simpler: the same house costs 2.6x more per month than it did a decade ago. That's not a lifestyle problem. That's a structural affordability crisis.
10 years ago:
• 30-yr mortgage: 3.4%
• Median home price: $250k
• Monthly payment: $887
Today:
• 30-yr mortgage: 6.7%
• Median home price: $446k
• Monthly payment: $2,302
That's a 160% jump in monthly payments. Plus you need an extra $39k just for the down payment.
Wages haven't kept pace. Not even close. This is why an entire generation feels locked out of homeownership — because they literally are. The math doesn't work anymore unless you had a head start or got lucky with timing.
People love to blame avocado toast and entitlement. Reality is simpler: the same house costs 2.6x more per month than it did a decade ago. That's not a lifestyle problem. That's a structural affordability crisis.