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Housing prices are coming down. The absolute peak of demand ended two years ago.

Yeah I'm at 2.5% and can't even wrap my mind around moving. Would be paying double and a higher rate just to get into the same house

Part of the reason is lack of inventory. 

Yep. The high interest rates, 3 years of inflation in most other goods/services, SHOULD have created an affordability problem that brings down prices. 

But so few people are willing to sell, because where will they go? And why sell your 3% mortgage for a 7.5% mortgage? The only people selling these days are the people that have to, and the economy is humming along so most of them don't have to. 

There's plenty of housing demand out there--just not at these prices & interest rates. But even if demand has eased a little, the high persistent prices are due IMHO to a lack of supply. 

$3 K a month will make a house payment

maybe not the house you want, but the house you need

and then you can free yerself from the evil landlord an build equity

$3K per month is a lot of house in most places, including here.

I've casually looked at how much my HOA covers here, which is kind of like rent, and how much we were paying on our single family in Cincy.  You buy a house, great, but then you have a ton of ancillary expenses vs renting, particularly property tax.

You have a lawn to mow, landscaping to maintain, painting and upkeep, cable bill, internet bill, gas bill, electric bill, ...  

I'm paying over $2 K a month for HOA and property tax here.  

I've casually looked at how much my HOA covers here, which is kind of like rent, and how much we were paying on our single family in Cincy.  You buy a house, great, but then you have a ton of ancillary expenses vs renting, particularly property tax.

You have a lawn to mow, landscaping to maintain, painting and upkeep, cable bill, internet bill, gas bill, electric bill, ... 

I'm paying over $2 K a month for HOA and property tax here. 

< $700/month here. HOA is much more than PT.

I guess prices must be coming down a little. In my city for a 3/2 SFH, we a couple of months back didn't have a single place available for under a million. Now there are 3 for sale. Yay crash!