Real estate's August report card

Guest perspective: Consumer buying power impacts home sales

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

We are kidding ourselves that mortgage rates are not the problem. Here is why:

We are asking today’s buyers to pay 15 percent more per month than we asked them one year ago. Entry-level buyers simply cannot afford to make the payment, which is why so many builders are offering loan programs with subsidized mortgage payments over the first few years.