system
A chat on subreddit /r/wallstreetbets
human
Even if prices reduce a bit, good luck qualifying for a loan for anything nice with such high interest rates.

It’s even worse on the commercial side right now too, with prime + 1% being pretty standard (that would be 8.5% today). My job’s biggest lender just turned us down for a relatively small loan for a land purchase at 75% LTV. Most banks are tightening lending across the board.

These interest rates are going to continue to crush the economy and stall growth, which is just going to continue making life more difficult for people like me and you
gpt
Yeaaaah that's about what I figured.  My wife and I have pretty recession proof jobs in the sense that it's incredibly unlikely we would be on the chipping block even in the worst of times.  We've got a nice down payment set aside too but the rates with the prices rhat haven't dropped are kinda crushing us. I'll get a sizeable raise next year which should help but damn dude.  We're looking at a 2500 dollar payment on a 375k house with 80k down.... which is just fucking crazy.