That’s a little contradicting, don’t you think? Even if rates doesn’t go up, in order for the price to reverse back to where things made a bit more sense, it would have to drop by at least 30-40%. I use rent cost and income to be consider where payment make sense.I can rent a 550k house for $1800. So, even if rent go up to $2k, and rates stay the say, in order for mortgage payment to be anywhere near $2.5k, price would hav to drop under $400k. That’s more than 40% to my calculation.
