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Just like 7% inflation isn’t that bad because it could be a whole lot worse?
by ffgjgf1 3y ago
Just like 7% inflation isn’t that bad because it could be a whole lot worse?
- jowdones 3y agoLook, a 10% interest rate isn't that much on a $10,000 personal loan. But that doesn't even buy you a new car today and for a measly apartment in a major city you gotta be prepared to spit in the vicinity of $1,000,000. This insanity has to stop, hence the high interest rates.
- ethanbond 3y agoThe prices are high. Not the interest rate. And yes the distinction is important because the solutions to each problem is different.
- ffgjgf1 3y agoNot sure high interest will result in any meaningful decrease in real estates prices. Best case they might stay stagnant for a few years which would allow wages to catching up a bit.
- sidewndr46 3y agoI mean it could be worse, the government could declare the old currency is deprecated and that we can only convert $2000 USD into the new currency.