Historical Mortgage Interest RaTes

[tps7742]

If you want to know where we really are on mortgage interest rates, here is the ghost of Johnny Cash with his take.

https://youtu.be/Vg3U8eVwuGE?si=okpfzO8-oSrileq2

Nicely done and homegrown it looks like. 👍

[Txhunter3000]

Decent neighborhoods drive this a lot. Low crime neighborhoods have minimum sq ft requirements these days. My part of TX you are looking at 2,500 sq ft home requirements. Maybe some older ones still decent around the 2k sq ft mark. Im sure in 1971 way more neighborhoods were decent.

Also I built a home during covid but contract was signed prior so locked in materials and labor pre covid. Same model build now is 35 percent higher now.

Also supply is being decimated by higher housing demands due to massive population increases and California and New York money. Don’t forget the millions Biden has let in. They are living in houses too.

So many things driving up housing. Rent is insane

I wouldn't call them houses.

[Greenheadless]

Decent neighborhoods drive this a lot. Low crime neighborhoods have minimum sq ft requirements these days. My part of TX you are looking at 2,500 sq ft home requirements. Maybe some older ones still decent around the 2k sq ft mark. Im sure in 1971 way more neighborhoods were decent.

Also I built a home during covid but contract was signed prior so locked in materials and labor pre covid. Same model build now is 35 percent higher now.

Also supply is being decimated by higher housing demands due to massive population increases and California and New York money. Don’t forget the millions Biden has let in. They are living in houses too.

So many things driving up housing. Rent is insane

[Txhunter3000]

Trucks cost 30% more than my first house and it was a quality house. My second house I built myself in 88 and still live there.

[LivinADream]

It's not necessarily how much prices have gone up as it is our wants. I built an 1150 sqft house in 2011 for 31K. I did do most of the work myself, but even if I had paid to have it built it would be in the 50k range. It was equivalent in amenities as the house I grew up in, and cost about the same to build.

Now it had stained concrete floors, formica counter tops, and pre made box store cabinets, but was a nice brand new home to start my family.