Think about this a sec. Have you ever seen that show on A&E called King of Cars? Most people go to buy a car and only wonder what monthly payment is. Nobody ever brings a calculator and calculates the payment times 42/60 months or whatever. They just see is they can actually afford it. So with that in mind now a monthly payment at $400k loan 6.5% is $2528.27 (no pmi/Inssurance). Now do same thing on $288k at 10% $2527.41… I remember the day I first acquired my job 10 years ago and bought this 5.0 GT convertible. Lied about how much I made, forged a statement, and bought it at 20%. Guess how that sucker turned out? WHAT EVER IT TAKES I WANT IT. In the end its going to be extremely difficult to maintain current median at higher rates. The loan guy I was talking with said that Arm’s are affected by FED hikes, but 30 year fixed are adjusted by stock market and gas prices and fluctuate almost every day. Imagine high rates like in early 80’s or mid 90’s. I mean anyone ever consider the term history also repeats itself? I still may buy due to things posted in other thread but the home I buy at 450k would have to go under 300k for me to “have made a better choice” payment wise. But we will pay it down ASAP with all tax returns going to principle and when rates come back down we may refi at lower rate and rent it out or just pay it off. We rented the dump I’m in for 7 years. The home I buy will be 10 years +.