Comment on A reminder
Rhaedas@fedia.io 20 hours agoI am old enough to remember when a simple savings account at the bank was 5% interest, no minimum balance. Now grabbing a high yield account of 3.5% is doing well for the average person, and requires a high balance to qualify for that "incredible" rate.
anon_8675309@lemmy.world 19 hours ago
Yes but a mortgage was 11%.
Now housing was still affordable then, so…
Rhaedas@fedia.io 19 hours ago
Housing was affordable and wages hadn't fully flatlined, so a single income family could still possibly pay that mortgage, even pay extra against the rate, and support a family. Definitely a lot more than one single rate number, lots of things are broken.
mcv@lemmy.zip 19 hours ago
I would absolutely take the interest rates of the 1980s with the housing prices of the 1980s.