I personally have not seen them yet, but I do close for a few new home builders, and some of these people are buying $350,000 on a $4K-5K a month income. How are they going to afford that house, HOA, taxes??....doesn't make sense. lot's of "house poor" people now as rates are low and qualifying is not too hard. Builder's lenders seem to have blinders on to move them out...
One way to look at it though, our refinance pool will be dry for the next decade, as nobody will redo their loan when at 3% or less, so we need something to do. |
