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
Decades ago your parents are making $100k, but houses only cost $100k with a 7% interest.
Now, we are making $100k, but houses cost $400k with 7% interest.
Property prices went up dramatically, while salary never kept up. Interest rate increase based on property price, therefore it is worse now
Latest Answers