Yeah, but look at the case-shiller or the house price to avg incomes[1]

Back in the 80's homes were 4-5x the avg income

2002 5-6x

Now 8-9x

I rather buy something on 12% that's 4x my income than what my option is today.

[1] https://www.longtermtrends.net/home-price-median-annual-inco...