It isn't just price that is the determinant. Interest rates have as much or more to do with the slowdown in sales, particularly for those who cannot afford to pay cash for a home here.
Some rough-and-ready examples (courtesy of mortgage calculator website:
$500,000 home, 20% down, interest rate 7.5% = monthly payments of $2796.86
$600,000 home, 20% down, interest rate 2.5% = monthly payments of $1896.58
$700,000 home, 20% down, interest rate 2.5% = monthly payments of $2,212.68
These numbers don't give an exact figure, but are ballpark; they also don't include things like insurance, bond, etc., which raises the monthly costs. But it is a good approximation.
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