4 ms·
My parents are boomers and frequently talk about the 2020s being 70s dejavu. My father entered his 20s in in 1968, and the tail end of his 20s in a deep recessi
by andrew_ 4y ago
My parents are boomers and frequently talk about the 2020s being 70s dejavu. My father entered his 20s in in 1968, and the tail end of his 20s in a deep recession and purchased a modest home in 1976 at a blistering 14% on 30 year fixed. His experience in the Midwest did not match with the assertions in the article.
- Pxtl 4y agoHow much was the total price of that modest home? 14% of cheap is still cheap.
- nemo44x 4y agoIt’s pretty much the same as today when you consider inflation and interest rates. People love to believe homes were basically free back then but they weren’t. Interest rates were super high and people still paid the same percentage of their monthly income line today. There has been sone warping to be sure in and around metro areas people want to live in. Those areas were being abandon back then. Most places in the country are really cheap. But overall it’s about the same.
- fallingfrog 4y agoRents really are higher though.
- andrew_ 4y agovery true. in my area it's related to Zillow and the iBuyers swallowing property and inflating rent artificially.