We are not in a bubble
- Seattle, Portland, San Francisco
- 2022/06/30
In May 2022, cost-of-living metric ↑ 4.98%, yet the month averaged 5.23% mortgage rates. Not to mention, home prices ↑ 19% YoY. Over the past half-century, mortgage rate has been ↑ 4.3 pp the sticky inflation. Adding that historic premium to May’s 4.97% sticky inflation, that’s mortgages nearing 10%!
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