re: Monthly mortgage payment based on a median existing home is now at a record $2,322

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It’s almost as if retired 75 year olds are out of touch.

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Im not retired or 75 but for the older people looking at various stats, it is confusing when people are saying "they cant afford xxxxxx".

From a thread earlier this week regarding car loans:

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Today’s average new car loan has a monthly payment north of $750, with an interest rate of 9.5%.

Seasonalized rates of severe delinquency for auto loans are the highest since at least 2006.

The squeeze faced by borrowers might soon ratchet tighter, with a payment holiday for student loans set to expire at the end of the month. According to credit-reporting agency TransUnion, more than a third of consumers with student loans took on new auto loans during the pandemic.

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And this is an excerpt from an AP News article today:

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Americans didn’t let persistent inflation and lingering worries about a recession cut into summer spending on dining out and drinking.

Retails sales at restaurants and bars surged from May through July compared with a year ago, despite prices remaining relatively elevated for restaurants and bars. Sales in the sector jumped 11.8% in July and 9.5% in June from a year ago, according to the Commerce Department.

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AP News Article

This is where some confusion lies on my part....people are taking out crazy loans on new cars, going out to eat more, credit card debt is at record highs etc. People don't seem to quit spending.