Today’s home-buying KIDS are a bunch of whiny cry babies. My wife and I bought our first home together in 1979. We felt lucky to have a fixed rate 30-year mortgage at 9.5%
And when we walked 2 miles to the market it was uphill BOTH WAYS!
the problem isn’t so much the current interest rates...it’s the rapid home appreciation coupled with the rise in interest rates. A scenario in which the median home value is 2x median family income with 10% interest rates is preferable to the current scenario in which the median home value is 5x median family income even though rates are still in the single digits.