We Bought Ten Years Ago

Dirk Hanlon: mortgage rates hit 7.4%, the highest in nearly three years. Gus: prices are up, we're rich! Dot: prices rose 1.3%, Father, the rate doubled; by one investor's math the payment on the median home nearly tripled in ten years, $834 to $2,315. Lorraine: is that us? Gus: nope, we bought ten years ago. Skip: so I'm never moving out.

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

Dirk HanlonGus PeltDot PeltLorraine PeltSkip Pelt