getting a mortgage and wondering if they can afford the payment. There is a huge difference in payments when you can borrow at 4% instead of 7%. A $350,000 home is affordable to many if interest rates are 4%, that same $350,000 home sudden becomes unaffordable to millions fo people if interest rates were 7%.

Next, in high cost areas it's pretty common for parents to help kids with a down payment. My prediction is this help will happen much more often in Utah over the next few decades. Many Utah parents have been careful with their money and have some money they plan to leave for their kids. They will choose to give their kids $20k or $30k to help them get into that first house.

Finally, Utah is increasing its housing supply faster than any state in the nation. Hopefully, these home builders can continue to grow....can continue to find dirt to develop... and can continue to get the government approvals necessary to keep building. Affordable housing is a worthy goal for a society (even if it means that those already with homes will see less appreciation over time).