Whilst I don't disagree with you. That doesn't mean those with mortgages aren't struggling to pay.
Also if true, that is insane that the average american lives in a home that they own by the time they're 35. That is so far and wide not the case here in Australia.
Here in Australia, we don't have fixed rate mortgages for the life of the mortgage we have variable and fixed upto around 1-5 years. Our interest rates have gone from around 2-3% to over 5.8% and the value of homes since COVID have gone up enormously, some 30-40% across our cities and nationally combined 27%.
I know we're just talking about the US here I assume, but I earn a chunk above the average salary and I be considered "at risk" in affording the average cost of a home. I know plenty of people who bought their house 3 years ago right when COVID kicked off, of which they would not have been able to afford it today given the increase in just house prices.
Also if true, that is insane that the average american lives in a home that they own by the time they're 35. That is so far and wide not the case here in Australia.
Here in Australia, we don't have fixed rate mortgages for the life of the mortgage we have variable and fixed upto around 1-5 years. Our interest rates have gone from around 2-3% to over 5.8% and the value of homes since COVID have gone up enormously, some 30-40% across our cities and nationally combined 27%.
I know we're just talking about the US here I assume, but I earn a chunk above the average salary and I be considered "at risk" in affording the average cost of a home. I know plenty of people who bought their house 3 years ago right when COVID kicked off, of which they would not have been able to afford it today given the increase in just house prices.