Jan 2023 home prices rose 3.8% annually, but dropped Dec to Jan in 19 of 20 cities Case Shiller home prices measure. Can you afford a home now?
Homes
Total US home values are $43.5t with $12.52t total mortgages. So homeowners have very healthy 71% equity. But are these values affordable?
LOL, best bank crisis GIF award goes to Clark Miller for tributing American Beauty Annette Bening 'I will sell this house' scene with SVB
2023 new home prices in March are higher but rates are lower so you can actually afford more now than last month.
Home affordability 2023 is decent. You need to make $81k to afford a home with no other monthly debt, or $97k if you have $600 in other monthly debt.
When iBuyers like Opendoor have excess inventory to sell, this is a buyer's market signal that works in your favor when making offers.
CoreLogic Case Shiller home prices are down 2 straight months across 20 'cities' but this data is 3-4mo behind and not local. Here's how to price a home for real.
With new home prices 2023 down 14% to $427,500 and mortgage rates at 7%, how much do you need to make to afford this price?
Housing market value drops $2.3t from Jun to Dec per Redfin, largest Jun-Dec percent drop since 2008. Still worth $45.3t.
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