Kristie Gates Real Estate

Auto debt is already the second-largest category of household debt after mortgages. But now, those rising payments are competing more directly with housing costs at the moment buyers are trying to qualify for a loan.

“Vehicles are getting so expensive and pushing down that buying power,” says Michael Perna, a real estate agent in Michigan, adding that he’s seen car costs push buyers into neighborhoods they would not otherwise consider—out of the market entirely.

Don’t miss this one!

90 Scouts Ridge Drive Covington, GA 30016 | Georgia MLS Don't let this one pass you by! Featuring 3 bedrooms and 2 full baths with an additional separate office space! Open floor plan with! The oversized kitchen has a large center island great for entertaining! Updated LVP flooring that is easy for cleaning! Primary suite is oversized with an en-suite ba...