00:00There's some good news and some bad news. The good news is that as of the latest data from this week,
00:04inflation is now at its lowest point in the last two years at 4%, meaning prices are still going
00:10up, but now only by 4% per year. Now, the bad news is buying a house is potentially going to get more
00:16expensive. Now, I have to warn you that I'm not a real estate agent. I'm not a professional.
00:21I'm just an amateur trying to understand this stuff by looking at the data, but it's kind of
00:26crazy to see what happened in the last few years. In January of 2019, the median sales price in the
00:32U.S. was only $313,000. At that time, the average 30-year interest rate was about 4%. That's a
00:39monthly payment of about $1,500. Now, let's take a look at those same numbers today. The median sales
00:44price is now $436,000, and interest rates are 7% for the national average 30-year mortgage. That's
00:52a monthly payment of $2,900. That's a 93.4% increase, or in other words, almost double.
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