The Road to a Front Door

Along the road, word came that houses had grown dear. Ambrose: 7.4% now, 3.4% ten years past. Pim names his snail Mortgage, because he takes thirty years too. Prudence: same house, near triple the payment, or so the man reckons. The median home sold for $417,500 in September. The road to a front door grew longer.

The average 30-year mortgage rate is 7.4%, its highest since late 2023, and the median existing home sold for $417,500 in September; by one investor's arithmetic, a buyer with 20% down pays $2,315 a month on the median home today against $834 ten years ago, a rise of 178%.

Starring

🎙️The NarratorAmbrosePimPrudence