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Real Estate
Reply to "Housing is the new source of inequality"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We bought our first home in 2002. Our interest rate was 6.75%, so not that different from today. My parents bought their first house in 1980. Their interest rate was 15%. The recent sub 4% interest rates were the anomaly, not the norm. [/quote] Dimwit housing costs as a % of income were different then.[/quote] In 1980 a single income couple bought a fixer upper small cape with no central AC, no landscaping service. No maid, no Internet. No cable tv, no cell phones, no Starbucks and no fancy vacations with one used car in driveway. Dad fixed car and house himself and mom made meals never ate out or got take our. Of course they could afford it one income and homes cost less. [/quote]
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