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re: new residential construction prices
Posted on 3/10/23 at 3:52 pm to Crusty
Posted on 3/10/23 at 3:52 pm to Crusty
I don’t know how people can afford $250/sqft. That comes out to $625K for a 2500 sqft house. If that also doesn’t include the lot, you’re looking at $700K.
People were backing out like crazy a year ago because of the rate increases. People generally stretch themselves too thin already, so an extra $500 per month for the life of the loan because of rate hikes forces their hand.
People were backing out like crazy a year ago because of the rate increases. People generally stretch themselves too thin already, so an extra $500 per month for the life of the loan because of rate hikes forces their hand.
1
Posted on 3/10/23 at 4:43 pm to Tifway419
quote:
extra $500 per month
Assuming a mortgage of $600K, the difference between a 4% 30 and a 6.5% 30 is going to be closer to $1,000/month. A $4,000/month mortgage would stress me TF out. I’m so glad I bought my house when I did.
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