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Does this mean that the new homes of the future won't all come with wall-to-wall granite flooring? Shocked! Shocked I tell you!
Source Data:
St. Louis Fed: Real Median Sales Price for New Houses Sold
MBA Survey: Share of Mortgage Loans in Forbearance Increases to 0.50% in
November
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From the MBA: Share of Mortgage Loans in Forbearance Increases to 0.50% in
November
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey...
3 hours ago
2 comments:
When you look at the median sales price divided by disposable personal income a very humble picture is present: even at its low point, median sales price of new houses are 6 times that of disposable personal income. So, even when the median new house price is cheap, it is still relatively expensive on a per capita basis.
The per capita American would need to save 3 times their disposable income to put down as downpayment just to buy the house with a mortgage that is 3 times their income. And consider that the personal saving rate just shot up to 6.5%! Is that even a good sign?
Luke Smith,
I think the "per capita American" is facing enormous headwinds over the long-term. Sigh.
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