Home owners buy points all the time. I’m not talking about the rich either, this is done at middle class incomes. And as low isn’t a real metric. That 2.65 was going out to folks borrowing less with excellent rates. The average person taking out a 750k loan was absolutely not getting that rate. It would have been closer to 3.5%. You seem to be mixing average with the absolute lowest rate.

Yes the price went up. It wasn’t double.

Sure, if you use made up rates and exclude point buy downs.

It hasn’t doubled, but the past 3 years have been a difficult change, I completely agree. The return to more normal rates, plus the temporary surge with COVID have priced some out of a home. But both these increases are back to normal and this hasn’t priced out most of the middle class. It’s more expensive, and we should try to make housing more affordable especially for those that don’t make enough to own, but hyperbole like yours is exactly what I’m referring to. It’s not double and gen z home ownership rates in the US at least are better than millennials.

It’s US federal reserve among other research papers which may not translate to CA 1 to 1. However I wonder if a similar trend in sentiment. I see this quite often around housing prices. Yes, there was a surge and interest went up, but housing is still within budget for the middle class. The sentiment among young people seems to be I’ll never own a home and I need a million dollars.

https://www.economist.com/finance-and-economics/2024/04/16/generation-z-is-unprecedentedly-rich