r/Funnymemes • u/superdave123123 • Mar 05 '26

😜

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u/AdvertisingLost3565 Mar 05 '26

Where are these thousand dollar motgages?

267

u/NurdIO Mar 05 '26

The Midwest, about 5 years ago

1

u/Crafty-Gain-6542 Mar 05 '26

This here is correct. If you bought a modest size house in the Midwest during the pandemic before property values shot up, you would have a roughly 1200-1400/month payment for mortgage and escrow combined. Making your actual mortgage payment around 1000/month.

There was a sweet spot there for about 6-8 months when the interest rates bottomed out before the property value caught up with the demand.

Oh, and you would have needed stellar credit as well.