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>The article also says “Millennials buying their first home today are likely to pay 39% more than baby boomers who bought their first home in the 1980s”. Inter
by landcoctos 7y ago
>The article also says “Millennials buying their first home today are likely to pay 39% more than baby boomers who bought their first home in the 1980s”.
Interest rates were much much higher in the 1980s. So it's probably a wash and/or even less now.
- baldeagle 7y agoInterest rates can be refi'd at a lower rate, but the amount you paid on the day you purchase it can never be bought down (there is inflation, which can reduce your debt load, but only if wages go up as well. We're seeing real estate and consumer goods increasing and most non-tech wages stagnating. Don't even get me started on the gig economy).