Comment by happyopossum
2 days ago
There was a huge affordability problem 4 years ago when the rates were 3% too, so that’s clearly not the “root cause”. In fact, at the time HN was filled with people blaming the “free money” 3% rates for the lack of affordability…
LOL, you live in California? The past affordability you are talking about was not universal. There were plenty of people happily buying homes after moving out of CA to other states.
Anyhow, interest rates are the root cause now. Who in their right mind would do the trade I've described?