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 rate in 1981 was about 17%. The median home price was $60k. Inflation adjusted, that’s equivalent to $227k today.
Fast forward to 2023. The median home price today is $410k.
17% on $60k v 7% on $410k. Anyone with a pulse should see why they’re not comparable.
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