They are VERY desperate to try and find a floor to housing.
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And they are avoiding the **very thing** that would get us there…allowing prices to fall to a point where buyers can comfortably afford it with 20% down and a max 28/33 DTI ratio. I’m leaning toward this being on net income, because the costs of everything else are so high now, and we need to factor-in self-funded retirement and high medical bills.
Either prices have to fall or wages have to rise.
They keep dancing around the real problem: too much debt!!!
