4 ms·
>Sal can afford $1500/mo for a mortgage, regardless of interest rates. If interest rates are 15% like they were in the early 80s, Sal will be expecting salary
by alasdair_ 5y ago
>Sal can afford $1500/mo for a mortgage, regardless of interest rates.
If interest rates are 15% like they were in the early 80s, Sal will be expecting salary increases of >15% a year to keep up, so that $1500/mo won't stay that way for long.