THE FED IS HIKING RATES BY 200!!! IT'S HAPPENING
(twitter.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (65)
sorted by:
I had one third down on a home in 82 and could not get a loan, the going rate was 16.5% if my memory serves. I was 25 with 2 kids and a good job.
A mass deflationary depression would be the short, sharp and sweet collapse we need. It would be an event that fucks the most people over, as most are stacked up on debt; a true precipice. On the contrary runaway hyperinflation would destroy the dollar, eat away all those with savings (in cash), and hand everyone who has a mortgage in US dollars a free house. Hardly a precipice unless the rate of inflation quickly outstrips the income of those on fixed wages.
I think the former is the shock needed, but I can see it going either way.
Like my husband told out realtor when she pointed out that rates were high in the 80's, "Yeah interest rates were higher but housing prices were a fraction of what they are today."
so were wages.
That was before government realized the best slaves own homes.