Mortgage payment to income ratios are now pushing as high as 40%.
— The Kobeissi Letter (@KobeissiLetter) September 4, 2023
This is above the 2008 peak of ~34% and by far the highest level in history.
It is now nearly ~1.7x more expensive to buy a home than to rent.
The problem is that supply is scarce and higher rates are only… pic.twitter.com/M7b7R8js2I
Economic realities looming??
The AI take https://www.youtube.com/watch?v=xi8BV6bWsWg