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re: Homebuyers are now spending 40% of their gross income on mortgage and interest costs
Posted on 7/22/23 at 10:22 am to stout
Posted on 7/22/23 at 10:22 am to stout
quote:
Yes that is the other issue but in smaller markets rental rates are dropping. It will spread soon as people take on roommates or move back in with family. Also, a lot of Airbnb houses will convert back to regular rentals causing surplus inventory in the rental market too.
They’re building more apartments here in Louisville. With many starting at $2000 a month or better. In areas that I have no idea how they’re going to sustain that cost.
They’re going to have to come down to be sustainable but I’ve said that for awhile now. If we moved back into our old apartment, rent would be almost $400 more a month than our current mortgage.
2
Posted on 7/22/23 at 10:23 am to BluegrassBelle
I think student loan payments starting back will have some measurable impact on the US economy.
Posted on 7/22/23 at 7:27 pm to BluegrassBelle
quote:
In areas that I have no idea how they’re going to sustain that cost.
Who says they have to make sense. The tenants are likely only paying a small portion of the $2000/mo.
The Federal gov (HUD,etc.) is pushing affordable housing so hard that they’ll keep building apartments until their perceived demand is met.
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