4 ms·
Because interest rates were much higher back then (12% vs 0.5% now) so house prices were a lower multiple of wages. (Mortgage payments tend to be similar to ren
by laurencerowe 8y ago
Because interest rates were much higher back then (12% vs 0.5% now) so house prices were a lower multiple of wages. (Mortgage payments tend to be similar to rent, so higher rates mean lower prices.)
- C1sc0cat 8y agoWhat does that have to do with how much an estate agent/relator charges
- richardknop 8y agoReal estate prices being lower wage multiple means the agent has to charge bigger percentage commission to make same amount of money.