You can’t make this up:
— The Kobeissi Letter (@KobeissiLetter) May 22, 2023
1. Median Mortgage Payment: $2,800
2. Median Rent Price: $1,850
It now costs nearly $1,000/month more to buy a house than to rent.
Meanwhile, the average new car payment is now at $750/month.
The average interest rate on a used car loan just hit a…
Mortgage rates back to 7%.
— Nick Gerli (@nickgerli1) May 22, 2023
Meaning that the cost to buy a house in America is now approaching $2,700/month when including mortgage, tax, insurance, and maintenance.
Meanwhile, cost to rent is $1,850.
Biggest gap we've ever seen. Something has to break. pic.twitter.com/gC1ffJXKmL
