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<blockquote data-quote="Thebrownblob" data-source="post: 5519701" data-attributes="member: 60485">Most The people he was&nbsp; talking about are just like the people who were on the titanic[URL unfurl=&quot;true&quot;]https://www.npr.org/2023/02/17/1157456149/is-the-economy-headed-for-recession-or-a-soft-landing[/URL]“Dana Peterson, chief economist at The Conference Board, an economic think tank, says she sees recession in the data. &quot;The forecast is, we will see a recession,&quot; she says. &quot;Our leading economic indicators suggest that it&#039;s happening right now.&quot;[URL unfurl=&quot;true&quot;]https://www.cnn.com/2023/02/19/homes/housing-prices-2022-fourth-quarter/index.html[/URL]“This made the affordability picture even harder for many home buyers. Families typically spent 26.2% of their income on mortgage payments, which was up from 25% in the prior quarter and 17.5% one year ago. First-time buyers were evidently pushed to a breaking point on affordability. They typically spent 39.5% of their family income on mortgage payments, up from 37.8% in the previous quarter. A mortgage is considered unaffordable if the monthly payment, including principal and interest, amounts to more than 25% of the family’s income. Generally, a common financial rule of thumb is to not spend more than 30% of your income on housing costs.”</blockquote>

[QUOTE="Thebrownblob, post: 5519701, member: 60485"] Most The people he was talking about are just like the people who were on the titanic [URL unfurl="true"]https://www.npr.org/2023/02/17/1157456149/is-the-economy-headed-for-recession-or-a-soft-landing[/URL] “Dana Peterson, chief economist at The Conference Board, an economic think tank, says she sees recession in the data. "The forecast is, we will see a recession," she says. "Our leading economic indicators suggest that it's happening right now." [URL unfurl="true"]https://www.cnn.com/2023/02/19/homes/housing-prices-2022-fourth-quarter/index.html[/URL] “This made the affordability picture even harder for many home buyers. Families typically spent 26.2% of their income on mortgage payments, which was up from 25% in the prior quarter and 17.5% one year ago. First-time buyers were evidently pushed to a breaking point on affordability. They typically spent 39.5% of their family income on mortgage payments, up from 37.8% in the previous quarter. A mortgage is considered unaffordable if the monthly payment, including principal and interest, amounts to more than 25% of the family’s income. Generally, a common financial rule of thumb is to not spend more than 30% of your income on housing costs.” [/QUOTE]

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