Eek 4.4 is so high!
It’s 400/month more to buy the home I bought in 2016 with a fixed rate.
Factoring in appreciation as well as rate gain, it is 1000/month more expensive in terms of mortgage to buy the same home.
- plus 150/month extra property tax
- plus about 100k of mortgage interest now not tax deductible
Why are people who willing to pay SO much more today than even 2 years ago? What is going on??!!
I understand the price being high as lots of cities are very expensive relative to income. What I’m struggling with is not seeing what has changed vs. 2 years ago. It’s not like we were in a recession then and recovering now.