The income that potential buyers need has soared to record levels, according to Redfin.
  • Cheers@sh.itjust.worksEnglish
    7·
    1 year ago

    Who determines “afford”. Avg house is $400k, including rural America. 7% mortgage rates right now is basically 28k per year to interest.

    115k means you lose about 35% to taxes. 74k take home means about half your annual just goes to interest. Afford isn’t the right word here.