Home buyers face a mortgage cliff

Higher prices and interest rates have dramatically shifted the mortgage capacity of buyers in recent months. The average new SFR sold for $360k in April 2020, according to Census Bureau data. In March 2022, that number had risen by 45% to $524k. The mortgage available to two people making average hourly earnings has shrunk by $144k since August, and now stands at $469k, assuming they limit their mortgage payments to 28% of their combined income. These obviously are averages and will vary by market but a pervasive factor nonetheless.

I don't speculate on what this will do for home prices but it seems clear that it will buoy the size of the renter pool.  I'm less concerned with market prognostications than what we are doing to succeed.  I have sold the marginal ones or those needing updates, kept the goods ones, have low cost debt in place, cash flow, and reserves and am moving forward with properties that meet my criteria.  Feel free to share your thoughts and what you are doing to succeed regardless of market conditions.