Patrick Boyle

And I'll say, you know, you've $1 million to spend.

But the thing that makes it a bit interesting is

In the United States, like different cities, different states will have different taxes.

So, you know, if you look at Texas and you might go, oh, well, the home is really cheap there, but actually it has a really high real estate tax and we have to adjust for that.

And so I did all of these adjustments.

And I think I threw London in as well.

And I found in central London, for a million US dollars, I found this home above a chip shop that looked like it had been hit with a wrecking ball.

You know what I mean?

And you just think, I am sorry, but you are not moving in there.

Yeah, it's sort of such an interesting thing because, you know, as a seller, you might feel sad, you know, you're like, oh, my million pound house is now a 900,000 pound house.

But as a buyer, you're kind of like, yeah, but 900 is still too much, you know?

Right.

And yeah, and then it's also, you know, some of the reason as well is that people aren't earning as well as they did in the past and so on.

And so, yeah, like you said, because even interest rates really affect affordability.

And normally you would expect in a higher interest rate,

environment for houses to not just get cheaper, but to get a lot cheaper.

Because essentially how someone buys a home, like I remember when I bought my first home, you know, how much can you afford?

You don't know, right?

You know what you get as, you know, your monthly income.

And you go down to the bank and you say, I earned this much and I spent this on food.