Yikes!
This graphic popped up on MeWe yesterday evening. I can't link directly to the post concerned. Clickit to biggit.
The original poster didn't provide a source link, or any further details about where the data had come from. It's pretty scary, isn't it?
I'd love to know how accurate those figures are. Certainly, the numbers for Oklahoma City and Pittsburg seem suspiciously low. Can anyone who knows the property market well, across the country, tell us whether they're real or made-up? Is there a better source for correct information, and if so, can you provide a link to it in Comments? I'll be grateful for any help out there.
On the face of it, if that's what housing costs have done over a mere two-year span (OK, call it two and a half years if you're counting from January 2020), it's no wonder people can no longer afford a mortgage. Even at the old, lower interest rates, that's a big cost to swallow. At 6% or higher, it becomes almost impossible.
I'm glad I'm not in the property market right now . . .
Peter
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