[Texas Eagle]

Ok math whiz: a $85k 30 year mortgage with 12% interest in 1985 actual total cost was $315k.

A $315k 30 yr mortgage today at 3.8% is $525k total.

$315,000 in 1985 is equivalent in purchasing power to about $751,664.36 in 2019.

So it’s cheaper today to buy a median price home🤷🏼‍♂️

[ctdonath2]

Also there’s what constitutes a median price home.
Today’s home likely is larger with more luxuries like AC, better insulation, bigger garage, more trim, smarter controls, better appliances, etc.