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My parents bought their house when rates were about 12-14%... "High" is relative.
by all2 2mo ago
My parents bought their house when rates were about 12-14%... "High" is relative.
- tayo42 2mo agoHouses were cheap even with inflation though
- webdood90 2mo agoLazy, regurgitated take. House prices then were also 1/10 of what they are today.
- all2 2mo agoThis is more complex than "houses cost less then". Given a fiat currency and fractional reserve banking, the dollar floats in value like a leaf on the wind. Houses cost less, people made proportionally less (inflation is a consideration here), and interest rates still bite you in the butt over the long haul, regardless of your monetary baseline.