Global Economy Is On The Verge Of Collapse And Another Huge Wave Of Central Bank Liquidity Is Coming
November 11th, 2013
Mortgage Payments Rise To 40% Of Consumer Incomes: A Five Year High
Still think houses are extremely affordable? Still think rents, especially for rental stream-securitized offerings by Blackstone et al to widows and orphans , will continue rising in perpetuity? Think again. As the following chart from Bloomberg Brief shows, mortgage payments as a % of average consumer incomes has risen to 40%, up from the higher 20% as recently as a year ago, is still rising, and is now back to levels last seen in 2008.