Exorbitant or unbelievable just doesn't come near.
"Middle-class Americans would need to put 35.4%, or $127,000, down on the average home costing $360,000 in the U.S. today to afford it, according to a Zillow report Wednesday.That down payment is what a U.S. household making the median income would need to keep their monthly mortgage payments at 30% or less of the household’s monthly income. Putting these exorbitant costs in perspective, five years ago — when mortgage rates were just above 4% and the typical home was worth 50% less — the same home would have been affordable with no money down." :Newsmax
