Housing affordability has absolutely collapsed in a decade.
10 years ago:
• 30-year mortgage: 3.4%
• Median home price: $234k
• Monthly payment: $830
Today:
• 30-year mortgage: 7.4%
• Median home price: $417k
• Monthly payment: $2,310
That's a 178% jump in your monthly payment. Plus you need an extra $37k just for the down payment.
This isn't about whether homes are "overvalued" or rates will drop. It's about basic math. An entire generation is getting priced out while people debate whether we're in a bubble.
The real damage? This forces people into riskier decisions — stretching budgets, skipping inspections, taking adjustable rates they don't understand. When affordability breaks this badly, behavior gets stupid fast.
If you're waiting for "the perfect time" to buy, understand this: the perfect time was 10 years ago. The second best time is when you can actually afford it without wrecking your life. Everything else is just noise.
10 years ago:
• 30-year mortgage: 3.4%
• Median home price: $234k
• Monthly payment: $830
Today:
• 30-year mortgage: 7.4%
• Median home price: $417k
• Monthly payment: $2,310
That's a 178% jump in your monthly payment. Plus you need an extra $37k just for the down payment.
This isn't about whether homes are "overvalued" or rates will drop. It's about basic math. An entire generation is getting priced out while people debate whether we're in a bubble.
The real damage? This forces people into riskier decisions — stretching budgets, skipping inspections, taking adjustable rates they don't understand. When affordability breaks this badly, behavior gets stupid fast.
If you're waiting for "the perfect time" to buy, understand this: the perfect time was 10 years ago. The second best time is when you can actually afford it without wrecking your life. Everything else is just noise.
