I am surrounded by boomers saying this that in their day interest rates were at 15% and we have it easy! I’m also surrounded by the younger generations saying this is ‘not the same thing’
Explain to me the reasoning…
In: 233
Because it was 15% of a much lower number. And not just like regular inflation number, average houses used to cost like 3 or 4 times what an average yearly wage was. Now an average house costs 20 times an average wage.
The market went from low cost high interest to high cost low interest. But in the past couple years we are trying out higher cost rising interest and it is not great
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