Nothing is immune. It’s a real simple math formula in most communities. If the home is $620K, it’s a $500,000 loan at 6.5% interest and rising with a $120,000 down.
That’s a monthly PITA of ~$3800 not including mello roos/association. To get that down in the 40% of gross range, you need $120,000 a year income. The 30% range and it’s $150,000 in income.
Now, how many families make $120,000 a year or more and have $120,000 lying around?
