2 ms·
You’re mistaking rate vs outstanding debt. If I have a $1M mortgage at 6%, and a $1000 credit card debt at 25%, which is harder for me to pay off, assuming I m
by scoofy 1y ago
You’re mistaking rate vs outstanding debt.
If I have a $1M mortgage at 6%, and a $1000 credit card debt at 25%, which is harder for me to pay off, assuming I make $100K per year?
- ajross 1y agoClick on the link. I assure you I am not.
- scoofy 1y agoI see your point. I suppose my only response is that a significant amount of our debt is being rolled over annually. It’s currently being rolled over from extremely low interest rates to non-trivially high interest rates. We should expect the spike on the left side of the graph to keep increasing unless rates decline significantly, soon.