Based on a survey of 1,214 Americans who purchased a home in the past four years, a third of home buyers are spending an average of $16,510 past the upper limit of their budget (owners.com)
A large reason for this can be linked to a supply shortage intertwined with a healthy economy. According to S&P CoreLogic Case-Shiller home price index, the national home price is up an average of 6.2% from the previous year. This proves that investing in a home for the future sooner than later even at a higher rate is seemingly worthwhile.
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