You’re not considering that the market responds to these changes in affordability. If you can afford $3,186/mo today and the interest rate plummets, sticker prices will (over time, generally) track higher such that your monthly payment remains roughly the same.
It’s not a perfect relationship between the two—affordability does fluctuate, and the movements have a lot of latency between them—but on a societal scale the relationship holds.
It’s not a perfect relationship between the two—affordability does fluctuate, and the movements have a lot of latency between them—but on a societal scale the relationship holds.