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Reply to "Why do people think Boomers had it so good?"
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[quote=Anonymous][quote=Anonymous]My boomer inlaws had to deal with 10% mortgage rates in the late 80s, adjusted for inflation their house was 250K We have 7% mortgage rates, and that same house is approaching 500k. When you adjust for inflation, its 51% increase in mortgage costs for the same house today.[/quote] I'm PP, forgot to mention my in-laws parents(wife's maternal and paternal grandparents) had it even better when it came to housing. Both sides owned homes in Tenleytown, bought for the equivalent of 225k, single income, 4-5 children. Those same homes are between 1.5-2 million today. [/quote]
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