Homebuyer Debt-to-Income Ratios (DTIs) are now approaching 40% in the beginning of 2023. That means homebuyers are now spending 40% of their gross income on mortgage and interest costs.
Homebuyer Debt-to-Income Ratios (DTIs) are now approaching 40% in the beginning of 2023. That means homebuyers are now spending 40% of their gross income on mortgage and interest costs.
nitter.net /nickgerli1/status/1682481341525262336
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When I bought my house in 2016, the total mortgage (principle, interest, taxes, insurance) was about 18% of my gross. Two jobs later, same house, it’s now 8% of my gross.
House value according to Zillow has doubled since I bought it. As has the interest rates.
Got to crash sometime.