More pain
May 24, 2022
Monthly mortgage payments for median houses went up from around $1,400 last year to roughly $2,100.
— The Notetaker (@FinTwitNotes) April 13, 2022
This is an increase of about 50%.
Nominal wages only increased by 5% in the last year and real wages are therefore negative.
House prices should stay stable or even cool off. pic.twitter.com/cXcFcy9901
Add to that the staggering price increases for rent, food, cars, and oil, it'll be a miracle if the US didn't experience a recession.
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