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re: Powell: Fed can maintain higher rates for "as long as needed"
Posted on 4/16/24 at 9:58 pm to stout
Posted on 4/16/24 at 9:58 pm to stout
I honestly believe most of the problem is rates need to be even higher but they know the current generation of American people would near riot over 10% mortgage rates
The truth is historically that's not that high of a rate relatively speaking and after going 20 years with near 0% rates it's going to take something significant to reverse course
The truth is historically that's not that high of a rate relatively speaking and after going 20 years with near 0% rates it's going to take something significant to reverse course
Posted on 4/17/24 at 8:47 am to Wishnitwas1998
quote:
The truth is historically that's not that high of a rate relatively speaking and after going 20 years with near 0% rates it's going to take something significant to reverse course
Its not that high when you could buy a nice house for $80k
Basically every expense has outpaced earnings. A decent house in many areas is $200-$300k, sometimes more than that. Even a 7.5% mortgage on that is prohibitive to the average earner.
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