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"Can't afford a home? That is a problem due to high interest rates caused by the out of control spending by both parties. Go ahead and keep thinking it's a boomer thing."
To this I would add that when I took out my 1st mortgage interest rates were 13%, yet I found a way to make it happen ! The artificially low rates that have been around since 2009 or so are just that - ARTIFICIAL and historically low !! Rates have gone back up to what has been considered 'normal' for many, many decades and everyone is bitching about it. As a great many financial leaders have been pointing out all along, the artificially low rates are a house of cards that will eventually fall and the retreat to a more sustainable rate will be painful. That pain is just now beginning to be felt. The low rates caused consumers and the gubmnt to overspend and take on more debt than they can actually afford. Things will ease in '24 in a effort to make the Bidet look good, but after the election (regardless of who wins) there will need to be a long overdue correction. Just my $.02 ................................
To this I would add that when I took out my 1st mortgage interest rates were 13%, yet I found a way to make it happen ! The artificially low rates that have been around since 2009 or so are just that - ARTIFICIAL and historically low !! Rates have gone back up to what has been considered 'normal' for many, many decades and everyone is bitching about it. As a great many financial leaders have been pointing out all along, the artificially low rates are a house of cards that will eventually fall and the retreat to a more sustainable rate will be painful. That pain is just now beginning to be felt. The low rates caused consumers and the gubmnt to overspend and take on more debt than they can actually afford. Things will ease in '24 in a effort to make the Bidet look good, but after the election (regardless of who wins) there will need to be a long overdue correction. Just my $.02 ................................
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