What happened between 2019 to now? 💸 Credit: @fmsmith319 #girlmath #realestateinvesting

The cost of housing is astronomical, but what happened in the past 4 years is the problem. Check out the difference between 1995 to 2019 to 2023. So the complaining from us millennials started probably 2020, but this is why. So in 1995, the average house was $130,000. You put down 20%, that's $26,000. The interest rates were 7.8% back in 1995, and your principal and mortgage would be around $753. Now I'm gonna save the average incomes for last. Now, 2019, $260,000. Not bad over 25 years. It only doubled. So the down payment would be $52,000, and there was only a 4% interest rate. So the monthly payment for principal and interest was $993. So this difference was not bad at all. Here's where the jump happens. This is what— okay. 2023, the average home jumped to $419,000. The down payment would be $84,000.