The Kobeissi Letter @KobeissiLetter
1d
Homeowners are now spending a record 40% of their gross income on their mortgage. This is ABOVE the 2008 high of 39% and up sharply over the last 2 years. After paying income taxes and mortgage costs, most homebuyers have less than 30% of their income left. This is concerning.

"After paying income taxes and mortgage costs, most homebuyers have less than 30% of their income left."



‘Infinity mortgages’ have arrived that stretch far beyond 50 years.

When George Chalmers looked at how long his mortgage had grown due to rising rates, he saw something he never though he’d see: An infinity symbol where the amortization period should be.

https://archive.ph/Ig4kc#selection-4439.26-4439.93