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Me_irl
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this post was submitted on 06 Jun 2026
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me_irl
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Let's break this down. Plugging these numbers into a mortgage calculator, yes a $600,000 home with a 3% interest rate would be a payment of ~$2024/month. However, this assumes a 20% down payment, $0 property taxes, $0 insurance, $0 HOA etc.
However, an 850k house at an 8.5% interest rate with those same numbers would "only" be $5228/month. Additionally, as other commenters have pointed out, interest rates are not that high.
OP is straight up lying to you at worst, or just cherry picking numbers in a very deceiving way at best.
Not that I'm trying to argue housing is affordable. Just that people will go on the Internet and tell lies to spin a narrative and drive engagement.
Donald Trump wants the interest rates to go down, so wealthy people can have more free money.
I agree. But I do wish more people knew about USDA loans in the US, it was the only way I could initially buy my home because it means you can put any amount down, even 0% if you so desire. It allowed me to lock in a low rate (3.2%) in 2021.
The catch is that you must not be in an incorporated city or town, and income limits apply (based on your area's COL).
There's also FHA loans for those with not great credit, and VA loans for veterans. VA loans also allow 0% down
That's a pretty big catch. Or 2 catches, as it would seem to be.
It is viable for many, but it's not a generally-applicable solution.
Sure, but more options are better, and there's tons of non incorporated areas. I'm 45 minutes away from Seattle and in one, for example.
Here's the eligibility map: https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp
In addition to the crackpipe interest rates OP is proporting, house prices peaked in the US in Q4 2022. House prices are actually currently lower on average than they were in '21.