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Originally Posted by Brannigans Law
Who could possibly afford a home with mortgage rates 10% or above?
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Mostly the same people who can afford them now, because prices would drop. The big losers would be the people with home equity, after prices "unstick".
Quote:
Originally Posted by Goodlad
I'm becoming increasingly confused by certain aspects of this discussion. Aren't the majority of employees currently earning minimum wage in the service/food preparation industries? These aren't typically industries that would be in danger of losing jobs to automation. They also aren't very susceptible to out-sourcing of labor as they are tied to fixed locations.
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You can definitely eliminate some job. Cashiers can be replaced with a terminal. Servers can be replaced with "pick up your own food".