Oh, I agree with you, and concur with the spirit of the infographic. I just like accurate calculations!
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That’s realistic, but the infographic doesn’t include tax and insurance. Working backwards, it has:
- Home price: $600,000
- Down payment (20%): $120,000
- Loan amount: $480,000
- Interest rate: 3.0% fixed
- Term: 30 years (360 months)
The monthly principal-and-interest payment is exactly as the post said, $2024 / month.
Has insurance gone up? Absolutely? Have property taxes generally rise? They have. But this is an honest like-for-like comparison.
My math says that the monthly principal+interest on that house is more like $4,300 a month, assuming:
- Purchase price: $850,000
- Down payment (20%): $170,000
- Loan amount: $680,000
- Interest rate: 6.5% fixed
- Term: 30 years (360 months)
Not insignificant, but not wildly off like the infographic.
Point taken, but where are you in the world with an 8.5% mortgage? Rates in the US for 30 year mortgages are around 6.5% right now (source: https://fred.stlouisfed.org/series/MORTGAGE30US)
dparticiple@sh.itjust.worksto
World News@lemmy.world•Nato ready to defend ‘every inch’ of territory as Russian drone hits RomaniaEnglish
5·24 days agoThe Economist has a similar standard: https://www.economist.com/sites/default/files/pdfs/style_guide_12.pdf (see the ‘pronounceable abbreviations’ section, for instance)
dparticiple@sh.itjust.worksto
World News@lemmy.world•Nato ready to defend ‘every inch’ of territory as Russian drone hits RomaniaEnglish
48·24 days agoThat’s the Guardian’s house style for acronyms: https://english.stackexchange.com/questions/51924/proper-capitalization-of-commonly-used-acronyms-and-initialisms
dparticiple@sh.itjust.worksto
World News@lemmy.world•Trump tells Iran ‘open the F—in’ Strait, you crazy b——ds,’ — as he warns of new strikes and says ‘praise Allah’English
3·3 months agoReported in the New York Times: <https://www.nytimes.com/live/2026/04/05/world/iran-war-trump-news
dparticiple@sh.itjust.worksto
World News@lemmy.world•Scientists Freeze as James Webb Detects a Massive Cosmic Structure — And the Disturbing Signs It Wasn’t Empty - Secret NewsEnglish
4·3 months agoPlease don’t post things like this. There’s enough hype and disinformation floating around the internet already.
I will not dignify the article with a click, but in the spirit of countering spammy clickbait with facts, I surmise that the piece is referring to NASA’s spectacular new images of Nebula PMR 1 via JWST: https://science.nasa.gov/missions/webb/nasas-webb-examines-cranium-nebula/
30 year fixed rate mortgages are still the predominant mortgage type here in the US. There are other products like shorter term fixed rate and adjustable rate mortgages. (See https://www.mpamag.com/us/mortgage-industry/guides/the-7-most-popular-types-of-mortgage-loans-for-home-buyers/255499 for a good overview).