Debt is almost one of those facts of life like death and taxes. Recent data even show that Americans have over $13 trillion in household debt. With that in mind the folks over at Realtor.com analyzed mortgages taken out in the first 8 months of 2018 and calculated the median debt-to-income ratio for borrowers in the 200 largest metropolitan areas (limiting it to two metros per state) to find those markets where buyers’ budgets are stretched the most. Indeed….
“…make no mistake—the real estate implications of high debt loads can be huge, constraining buyers and potentially slowing price appreciation to a crawl. Correspondingly, lower debt levels can be a sign that a housing market has plenty of room to grow..”