Comments by "worn down" (@worndown8280) on "ZILLOW: Homebuyers SLAMMED With STICKER SHOCK" video.

  1. All these numbers and figures are nice. But its simpler than this. The median home in the US, according to the fed gov is 448k. Not the average, but the median. At 5.5% interest rate with 20% down, thats roughly 90k cash, your monthly mortgage note with impounds will be about $2400. That comes out to just shy of $29k per year. With the median household income of about $69k in the US that when you remove the various taxes that puts net household income at $59k. So income to mortgage ration is close to 50%. Healthy mortgage to income ration for FHA is 31%, conventional 28% and USDA 29%. To get to those levels home prices need to fall by 40% minimum. And the Fed has stated that is their goal. Every time the Fed squeezes these numbers are going to get worse. And when layoffs, hour cuts, and wage cuts happen, these numbers will get worse. And all this is dependent on people making a 20% down payment. But the truth is worse. Median down payment on a house is 12%. They only group putting down at least 20% is people over 64. I enjoy your content. The data is nice.
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  2. "Its a transitory soft landing" lol
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