Even the mortgage rate of 0 % will make the purchase of the affordable house in these 6 cities

During the epidemic, buyers enjoyed 3 % of the mortgage rates, which looked at a wave of homeowners for the first time. But by late 2023, Real estate mortgage rates reached 8 %And today is still soon 6.5 % to 7 %. This – in combining Home prices exceeding 50 % from 2020– The new home buyers were suspended from entering the market and current homes from the sale.

Zillow It was reported this week that the mortgage rates decreased to about 4.43 % to make the house average at reasonable prices for the model buyer. But the economic analyst Zillow Anushna Prakash He said this “unrealistic” Consider the huge decrease required to get there.

But even if the mortgage rates are It decreased to 0 %Prakash said that the average house will remain unable in some major metro areas, according to Zillow.

This includes:

• New York
• Los Angeles
• Miami
• San Francisco
• San Diego
• San Jose

This is because the high prices of homes are “the biggest obstacle”, ” Michel GriffithsLuxurious real estate broker with Douglas Iliman Its headquarters in New York City, narrated luck.

Griffiths said: “The truth is that buying to the market, especially in Manhattan or Prime Brokelin, still requires a large amount of money in advance,” Griffiths said. “The inventory is narrow and the competition is high, so the cost of the property itself is what keeps most buyers on the margin.”

Between May 2020 and May 2025, the famous home price index, which is widely used to measure US residential real estate prices, jumped by more than 51 %.

Griffiths said that while mortgage rates make monthly payments more expensive, the ability to afford costs “revolve around the total price of the price.”

She added, “The buyers are concerned with prices, of course, but what really matters is the presence of enough for the batch provided and the final costs.” “The small shift in prices does not make this $ 1 million apartment to be achieved.”

Another issue that contributes to the housing crisis is that there is no low price stock. Salim Krybi, founder and CEO of the House Building Company BluEEEST DevelopmentHe said luck Princesses and motivating buyers in Miami sees, but there are not enough houses available in the price range. Chraibi focuses on building homes for low -income families.

He said: “For the sellers, many hold homes because they do not want to lose the low interest rates that they have closed for years, making the inventory narrow and cycle.” “The biggest issue is the inventory of the types of homes that are affordable for middle -income families.”

Dealing with the shock of stickers

When it comes to the US market, Tipping One Scale does not necessarily determine the problem of the ability to afford housing.

Even buyers who pay all the money must “face the shock of stickers”, ” Alexander ColdReal estate broker with Keeler Williams Pay Bay Province In California, tell luck.

The price of the medium house is hovering in San Jose Constantly over $ 1.6 millionHe said, who draws the attention of most families before the costs of financing mortgage were considered. He explained that the mortgage rates decreased to 0 %, the average price of the price in San Francisco or San Jose or anywhere else in the Gulf region will require a very high batch and monthly payments.

While “many buyers here are very sensitive to prices, the ongoing numbers in every transformation in the market,” Kala said, “The main barrier is that the prices of homes have surpassed the local income since the prices have risen.”

The rents and house prices increased faster than income in most regions of the United States, according to a report issued in 2024 issued by the US Treasury. Americans now need to make more than six numbers to save a medium -price house, according to RealTor.comBut the ordinary American salary is just more than half of that.

Calla said: “Until we deal with prices, supply and local wages, the ability to withstand costs will remain a challenge, regardless of what is happening with prices.”