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If interest rates go up 6-7-8%, inflation would give most people an almost free house. Rent it out instead of selling and you have income for life.
by frockington1 6y ago
If interest rates go up 6-7-8%, inflation would give most people an almost free house. Rent it out instead of selling and you have income for life.
- matwood 6y agoEventually, but salaries tend to lag inflation. Also would depend how quickly rates went up.
- nostrademons 6y agoDepends on your job. Professional/managerial salaries often lead inflation - if you're a financier, engineer, consutant, or CEO you've been raking it in over the last decade. Public servants, service & factory workers, and other commodity jobs lag inflation. My mom was a teacher and said that when she graduated in college (late 60s), teacher salaries were maybe 20-30% below engineer/lawyer/professor salaries. By the time I was born (early 80s) her classmates in those professions were making 3x what she was.