Comment Re:Absolutely. (Score 1) 145
People can afford a payment. To use simple numbers, a $100,000 10 year mortgage would be $919.76. An $87,000 10 year mortgage would be $920.59.
If all people have is $920 per month, home prices will drop to reflect this.
If all people have is $920 per month, home prices will drop to reflect this.