The 14% mortgage rates came in part from the law of small (big) numbers. 14% of $35,000 is not that much money compared to 3% of 700,000
Agreed. I think it is lazy to look at the rise in real income and not look at the rise in real expenses and decline in stable, non-precarious employment.
I highly suspect the reason for this is because there is less income security for the young generation in 2021 compared to 1999. In 1999, people under 40 were gambling large sums that, if lost, could be made back…
The 14% mortgage rates came in part from the law of small (big) numbers. 14% of $35,000 is not that much money compared to 3% of 700,000
Agreed. I think it is lazy to look at the rise in real income and not look at the rise in real expenses and decline in stable, non-precarious employment.
I highly suspect the reason for this is because there is less income security for the young generation in 2021 compared to 1999. In 1999, people under 40 were gambling large sums that, if lost, could be made back…