The $400,000 Home That Costs $873,000—Welcome to 2024, Suckers!

The $400,000 Home That Costs $873,000—Welcome to 2024, Suckers!

If you bought a home in 2021, congratulations! You unknowingly pulled off the greatest heist of the century. If you’re buying in 2024… well, let’s just say you’re paying double for the exact same house.

Let’s break this robbery down:

2021: The “Golden Age” of Home Buying

Median home price: $346,000

10% down: $34,600

3% interest rate → Monthly payment: $1,313

Total cost over 30 years: $472,680

2024: Welcome to Financial Ruin

Median home price: $405,000

10% down: $40,500

7% interest rate → Monthly payment: $2,425

Total cost over 30 years: $873,000

Same house. Same country. Nearly DOUBLE the total price.

And before someone says, “Yeah, but wages went up!”—let’s do some quick math. Incomes did not double between 2021 and 2024. Your paycheck didn’t suddenly jump from $5,000 a month to $10,000. But your mortgage bill sure did.

And that’s before we even talk about rising insurance, property taxes, and maintenance costs.

So what’s the takeaway? If you bought in 2021, you won the lottery without knowing you were playing. If you’re buying in 2024, you’re paying luxury pricing for the same old house.

America: where your dream home comes with a nightmare mortgage.