This is a YouTube video titled "Ep 71 🚨 Owning a Home is More Attainable than many Believe 🚨" featuring Derek McGowan discussing housing market trends, mortgage affordability, and homeowner equity gains as of September 2021.
Last 12 months, 94% of the country's metro saw a double digit increase in home values. But with that being said, the average mortgage payment is still only $12.15 per month. The average household income needed to support a mortgage is only 58 grand, so still very attainable for many. And even with prices going up, interest rates staying low has kind of stunted the growth of mortgage payments. The average payments only increased $196 a month since pre Covid, so still very attainable. And the big thing is the average homeowner in the last three years has gained $90,000 in equity from their home. So still a lot to be had and much easier to workers. And then you realize.
