Mortgage rates back to 7%.
— Nick Gerli (@nickgerli1) May 22, 2023
Meaning that the cost to buy a house in America is now approaching $2,700/month when including mortgage, tax, insurance, and maintenance.
Meanwhile, cost to rent is $1,850.
Biggest gap we've ever seen. Something has to break. pic.twitter.com/gC1ffJXKmL