And loans. No one can afford cash. Was just looking at base model Toyota tundras. $78,000. The dealers just tell the monthly payment and not what the vehicle actually costs. The cost so much because people are willing to take out a mortgage for a car.
“The cost so much because people are willing to take out a mortgage for a car.”
You can’t touch a house for $78K in a major market in the USA.
Dallas is $400K for entry level 3b 2ba 1300sq ft in any acceptable neighborhood. Nice areas and 4b 3ba are all $550K and up way up as in 725K ranges for a two story. I was just looking at an investment property in a new lagoon community in DFW 4b 2.5ba 1800sq get it was $525K and had a 2.4% annual PID (utility district tax) on top of the county / state 1.45% annual tax. That’s $20212 in taxes PER YEAR or $1600+ per month not even including the note. This is why homes rent for $3500 a month in that area. Half of the rent is taxes alone.