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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The *interest rates* are not worse than the rates of decades ago.
The *effects* of the current rates on an average homebuyer are worse than the rates of decades ago.
This is because the value of a property relative to someone’s average wealth is much, much higher than it was back then.
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