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Reply to "Why do people think Boomers had it so good?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I purchased my first home in 1986 with a mortgage rate of 11%.[/quote] For a price that reflected that mortgage rate. You were then able to refinance multiple times; that's how a lot of people created wealth. Meanwhile prices today have not fallen as mortgage rates rose [/quote] Exactly buying at a high rate and low price and refinancing was a bonanza. [/quote]
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