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…
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Bear in mind salaries were a lot lower 40-50 years ago. In the 80s a 13% mortgage rare was the norm. I didn’t even know a bank would allow you to buy a house without a 20% down payment. Don’t you have to get a CMHC special insurance if you don’t have a 20% down payment? Why do ppl think buying is always the right way? There are many valid reasons to support renting instead.
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