Housing affordability has been quietly destroyed over the past decade.
10 years ago:
• 30-year mortgage rate: 3.4%
• Median home price: $243k
• Monthly payment: $862
Today:
• 30-year mortgage rate: 6.7%
• Median home price: $434k
• Monthly payment: $2,240
That's a 160% jump in monthly payments. Your down payment also went up $38k (assuming 20% down).
Same house. Same dream. Completely different math.
This is why younger buyers feel locked out. It's not just about saving more or being disciplined — the goalposts moved while they were running. Rates doubled, prices nearly doubled, and wages didn't keep up.
If you bought a decade ago, you won the lottery without knowing it. If you're buying now, you're playing a different game entirely.
10 years ago:
• 30-year mortgage rate: 3.4%
• Median home price: $243k
• Monthly payment: $862
Today:
• 30-year mortgage rate: 6.7%
• Median home price: $434k
• Monthly payment: $2,240
That's a 160% jump in monthly payments. Your down payment also went up $38k (assuming 20% down).
Same house. Same dream. Completely different math.
This is why younger buyers feel locked out. It's not just about saving more or being disciplined — the goalposts moved while they were running. Rates doubled, prices nearly doubled, and wages didn't keep up.
If you bought a decade ago, you won the lottery without knowing it. If you're buying now, you're playing a different game entirely.
