Veronica Dagher
speaker
3,082 appearances
51 recordings
1 series
first heard Sep 2017
last heard Jan 2025
Veronica Dagher’s voice in public audio — every appearance, attributed to the second.
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Appearances
Mortgage rates dropped and they were already low, but they went even lower for some folks.
And the demand for housing just really accelerated.
And as a result, homes like this one saw their value just skyrocket within a matter of four or five years.
So this home that they bought for $315,000 for a
I believe it was a 3.75% mortgage rate, is now estimated to be worth about $520,000 or more, depending on who you ask.
And so it's more than doubled in price from what the first owners bought it for.
And that appreciation...
is just in a matter of several years.
Yeah, it's really hard.
I mean, as Daryl Fairweather from Redfin, who's the chief economist, said, the bar just keeps getting higher and higher for what it takes to afford the typical home.
There's a stat that we found that in January 2012, the household income required to afford the typical home in the U.S.
was $39,000 and change.
And that's according to Redfin.
As of November 2024, homebuyers need to earn $126,000 and change to afford that same home.
And that's a 223% increase.
And so...
It's a really tricky situation for folks to have to make so much more money to afford a home these days.
Buyers and of course, real estate agents alike are praying for lower mortgage rates.
We don't know if that's going to happen anytime soon.
It doesn't look like it's headed in that direction.
Showing 21–40 of 3,082 · page 2 of 155
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