Housing today is nearly as unaffordable as it was in 1981 when mortgage rates hit 18%
Not only that, in terms of the mortgage burden, a median house today is almost as unaffordable as it was in 1981 when mortgage rates peaked at 18.39%—and more than 3x costlier compared to 1970:
3 replies
Hmm. Income column incorrectly formatted.
Who’s only paying 5% of their income for their mortgage? Many of these numbers seem incorrect.
I look at that table and see that even when it was the lowest in my lifetime I still couldn't afford a house. I am going to be a renting peasant for the rest of my life.