The math on buying a home in America is getting ridiculous.
10 years ago: $830/month.
Today: $2,300/month.
Same dream. Nearly 3x the monthly payment.
And people wonder why younger generations feel priced out of everything.
Is the American dream becoming a luxury?
The American dream just got three times more expensive. per WSJ.
10 years ago:
Mortgage rate: 3.4%
Median home price: $235,000
Monthly payment: about $830
Today:
Mortgage rate: 7.4%
Median home price: $418,000
Monthly payment: about $2,300
Home prices are up 78%.