wide view of a dilapidated craftsman home, peeling paint, broken windows, holes in roof, on a Seattle neighborhood street on a rainy day

Homebuyers are taking on monthly payments 59% higher than at the 2007 peak of the previous housing bubble.

As of February, the monthly payment for the median-price single-family home sold in King County at current mortgage rates was $3,945. The good news: This is down from an eye-watering $4,758 in October. The bad news: It’s up dramatically from just a year prior, and 59% higher than what we saw at the peak of the previous housing bubble…

The Consequences of a Market Full of Monthly Payment Buyers

Here’s a brief quote from a post that appeared here in 2006 titled The Monthly Payment Buyer: In my opinion, it’s no wonder that home prices have gotten so out of whack with true fundamentals, when the first question someone asks in the home buying process is not “Is this house worth $XXX,000?” but rather […]