EVERYTHING IS GOING SWIMMINGLY:
The housing market affordability index is now ~10% BELOW the 2006 lows.
This is officially the least affordable housing market in US history.
Mortgage rates in many states are approaching 8% and the median house now costs 560% of the median income.
In 2008, the median home… pic.twitter.com/43hdgbTZCs
— The Kobeissi Letter (@KobeissiLetter) August 16, 2023
Plus this: “US population is up about 12% since 2006, but the percentage of renter occupied housing units is up 28% since 2006. It would make sense given the lack of affordability that renter occupied housing would continue to grow faster than the population does.”
You’ll own nothing, sit in the dark, and eat the bugs.