Since January 2021, home prices, despite a late 2022 dip, have risen 29%
... and mortgage rates have nearly tripled.
The buyer of the typical home thus faces a monthly principal and interest payment of nearly $2,200, more than double the level of early 2021
If you own a house and have no plans to move, you might not care, or you might even enjoy your home rising in value.
Greg Ip WSJ Nov. 15, 2023
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