The interest rate at the time of buying is actually fairly irrelevant. What matters is the total lifetime cost of housing. Even though interest rates were high,

The interest rate at the time of buying is actually fairly irrelevant. What matters is the total lifetime cost of housing. Even though interest rates were high, purchase costs were much lower in terms of multiples of income. It's pretty clear that many boomers have benefited from a very low total lifetime cost of housing. The low interest rates/high house prices is now turning into a double blow - at least here in the UK (and for anyone that needs to move house in the US) - as low interest rates meant low monthly payments, which has inflated house prices further. Now people are having to refinance massive mortgages at higher rates, the cost is becoming even greater. Ultimately you just have to look at statistics of home ownership rates by age to see that things are getting worse for younger people. https://www.ecb.europa.eu/pub/economic-research/resbull/2022/html/ecb.rb220126~4542d3cea0.en.html https://www.ecb.europa.eu/pub/economic-research/resbull/2022...