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> the 2020 mortgage rate allows someone to buy 172% as much house as they could in 2000.

You'd think so until you factored in vastly higher insurance costs - between 2000 and now.

source: five years of insurance increases more than doubled our 2000's monthly home payment

This is not a big deal as you make it sound. Insurance is like 1k per year these days on a $300k house. If it was $500 five years ago, this $500 increase is nowhere near as substantial as the interest rate change relationship described above.

My home insurance is ~$900/year for up to $750k dwelling replacement cost with $500k in personal liability, and my premiums barely went up over 5+ years. It might have been $850 per year initially. This is with Amica.

Dang, do you live in a flood zone in tornado alley? My property tax recently surpassed by mortgage payment but my insurance payment isn't close to either. I think it's around $1500 a year or so.

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