/biz/ - Business & Finance

>>56539598
The shortest ARM term is 3 years, meaning the purchase would have been done in late 2020.

Homes aren't worth less today than they were in 2020.

97% of mortgages issued in 2020 were fixed rate loans.

Banks will not issue a mortgage unless you can prove you have the income to cover the debts.

You need 2 years tax returns showing that your gross monthly income is 2x-4x your monthly liabilities.

>>56498392
The only generation getting screwed here are Zoomers.

Millennials have affordable low fixed rates for decades.

Gen X is sitting on hundreds of thousands in equity.

Boomers have their homes paid off and the rising rates don't impact them because they can buy with cash

Zoomers trying to buy their first home are entering the least affordable market in 15 years.

>>56429833
Places that rose the highest are falling the most.