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October 10th, 2023 
Awake Goy After substantial intraday movement on “Indigenous Columbus” Federal holiday, 30-year regular mortgage rates in **ALL** 50 U.S. states and DC for **ALL** credit scores, for a loan value of $400K after 10% down, are now **over 8.0%**, with a high of 8.458% in Arizona.
Last time rates were this high, Clinton was still president, and prices were much more in line with incomes. Even with rental inflation now strongly reaccelerating… On a monthly basis, incl. property tax, any association dues, and insurance, in most U.S. areas it is now around 50% (give or take 10%) more expensive to buy than to rent, across all residential property types (of course, without even taking maintenance/upkeep into consideration.)
The IRONY is, higher rates and inflation as well as **sky-high prices** are all DEPRESSING SUPPLY, with existing owners afraid to take on a new mortgage or to bother with fishing for a new house at all (too crazy, who needs it?), ***also with likely SEVERAL MILLION RETIREE HOUSEHOLDS staying in their homes for as long as they are strong & healthy enough to do so, instead of “cashing out” (going 100% liquid) and then risking paying RAPIDLY INFLATING prices for “assisted living” rent, of course not knowing how many years they “have left.”*** (Media has covered the assisted living inflation aspect, but has NOT made the connection to real estate market.) All of which, just continues to raise prices on reduced supply (even when, according to “Law of Supply and Demand”, higher prices should STIMULATE supply… but, that’s with “all else being equal”, NOT taking into consideration the COST OF MONEY)… In short, it’s a ***DOOM LOOP***.
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