An Honest Perspective on the Housing Market: Why You're Making More Money Than Ever While Feeling More Broke Than Ever

No, this is not your typical “why now is the perfect time to buy” advice that is heavily pushed and quite frankly, gets really tiring. As a real estate professional who has worked through the ups and downs of the housing market, I am continually reminded of how quickly the market can shift compared to the reality of how slowly our lives are able to adjust with it. You work diligently, save and invest properly, and budget wisely. 

It’s all motivated by the dream you’ve probably carried from adolescence into adulthood: Achieve greater success and eventually create a comfortable life.

And right now, you may feel like that lifelong dream is becoming increasingly unachievable. You strive in your career and continuously work toward self-improvement, but it lately can feel like walking into a brick wall over and over again, hoping to eventually find the doorway to the other side.

In times like these, I think we have to stop and acknowledge the facts:

Your income may be increasing while the current state of affordability simultaneously counteracts that increase.

That isn't a personal failure. It’s an economic reality worth acknowledging.

One of the statements I hear almost 

every day now is: “How am I making more money and somehow able to afford less?”

Here’s the truth: you’re not crazy. Not one bit. In fact, the housing market heavily reflects this contradiction.

You may be making more money and doing everything you thought you were supposed to do. So naturally, you prepare for a potential home purchase and the opportunity to begin building long-term equity. You get fully pre-approved. You find a lovely home that has already had a price reduction. You’re even able to negotiate seller credits toward closing expenses.

Then you look at the final estimated monthly payment and think: “Well...that is WAY higher than I was expecting.”

This may sound foreign coming directly from a REALTOR®, but the honest truth is that you should not be shamed for feeling hesitant.

Buyers are gaining leverage without necessarily gaining affordability.

And as of September 2026, the housing market is in a very uncomfortable position. 

The Federal Reserve recently raised its benchmark interest-rate target by 0.25 percentage point as inflation remains a concern. Mortgage rates aren't set directly by the Federal Reserve, but monetary policy, inflation expectations, Treasury yields and the broader economy all influence the rates ultimately available to borrowers.

And those borrowing costs matter.

Loan qualifications change. Buying power changes. Monthly payments look drastically different from what your friends or family members may have experienced when they purchased their homes.

I call this a “limited buying experience.”

We saw another version of this after COVID when interest rates rose rapidly as the Federal Reserve responded to high inflation. But today's affordability problem can feel especially frustrating because consumers aren't only dealing with housing costs.

Food. Cars. Insurance. Utilities. Everyday necessities.

When all of these expenses demand a larger portion of your income, adding a mortgage payment into the mix can understandably create hesitation.

So people alter their search. They reconsider their down payment. They reevaluate the monthly payment. Or they sit out of the market entirely until the “time feels right.”

But there is something I've learned after years of watching this market:

The time may never feel perfectly right.

There will almost always be a reason to hesitate. 

So instead of trying to identify the perfect housing market, I think the better question is:

Does purchasing make sense for my life and my finances right now?

If you are genuinely in a position to purchase, you have adequate savings beyond the transaction, and the monthly payment (not simply the purchase price) comfortably works for you an your family, then I believe the possibility deserves serious consideration.

And no, this is not another version of the “buy the house, date the rate” approach that has been continuously repeated since 2021.

This is the vulnerable perspective of an agent experiencing many of the same economic stressors and willing to admit something our industry doesn't always like saying:

We truly do not know exactly what the market will do next.

I've had the same conversation with buyers numerous times from 2022 until now. They have the ability to buy. They're prepared. They've found something that makes sense. But the internal doubt becomes louder and their confidence starts to disappear.

Eventually the conversation becomes:

“But what if...?”

And sometimes I wonder if there's another question worth asking:

“Will my future self thank me for making this decision when it made sense for me?”

Looking back at some of those conversations now, I admit that the curiosity gets the best of me, wondering whether buyers who chose to wait for more favorable market conditions occasionally look at today's prices and payments and think:

“Damn. I wish I would've known.”

And that's exactly the problem.

None of us could have known.

We've historically watched home values rise over long periods of time, although appreciation is never guaranteed and individual markets can behave very differently. That's also why I tend to approach home prices differently with my buyers.

Price matters. Of course it does.

But the number I want my buyers to understand just as well, if not better, is their monthly payment.

That concept becomes especially important when you're seeing significant price reductions on listings.

A price reduction can absolutely be valuable. But depending on the property and financing, a negotiated seller incentive that reduces your interest rate or closing costs may have a more meaningful impact than another reduction in the purchase price.

That's where today's very strange market can create opportunity without suddenly making housing “cheap.”

The economy may not feel favorable right now, but I also don't want people to assume that means there is absolutely no way to make this environment work in their favor.

Ok, I get it. You probably read that and rolled your eyes. Stay with me.

When homes sit on the market longer, some sellers become more motivated to secure a buyer. That motivation can create negotiating opportunities.

Maybe it's closing costs.

Maybe it's repairs.

Maybe it's an interest-rate buydown.

Maybe it's another term that matters more to your particular situation than simply getting a lower purchase price.

And that's the beauty of real estate: negotiation gives us the ability to structure a transaction around the individual rather than pretending every buyer needs the exact same thing.

And this is where I want to be extremely clear: I am not telling you to hurry up and buy a house.

That would be both insensitive and unrealistic given the financial pressure our society is experiencing. I'm saying that if you are in a position where purchasing truly and completely makes sense, don't automatically dismiss the opportunity because you're waiting for a hypothetical future market where prices, interest rates and economic conditions all align perfectly and beautifully. 

That market may come.

It may not.

And nobody (including me) can truly promise you which one will happen.

The purpose behind writing this isn't to contribute to the very real pressure or defeat people are already feeling.

It's to be real.

To educate.

And hopefully, to bring a little clarity during an incredibly high-intensity period.

If you're working harder, earning more and doing everything you thought you were supposed to do, and still somehow feel like your money isn't stretching as far as it once did, that frustration deserves to be acknowledged and validated.

Housing affordability is difficult right now. The financial pressure is real. And after working so hard to create the life you envisioned, it can be incredibly defeating to feel like the finish line in that 10k race you signed up for is non-existent.

My job isn't to convince you that every market is a good market to buy in.

My job is to help you understand the market you're actually in, identify the options available to you, and determine whether any of them genuinely make sense for your life.

So, pardon my French, but screw the “marry the house, date the rate.”

Understand the payment. Understand your options. Understand your leverage. And make the decision that makes sense for you.

If you'd like additional insight into what is happening in the Oklahoma City housing market, you're considering purchasing, or you simply want to create a game plan toward homeownership, you've got a Realtor and a buddy here in Oklahoma City.

No pressure. No pretending I know what the market will do next. Just honest conversations, education, and a plan built around you.

I'm a call away, and here to stay.

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Meredyth Morris

Oklahoma City REALTOR®

Cherrywood