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Old 11-03-2019, 02:36 PM   #774
The Fonz
Our Jessica Fletcher
 
Join Date: Dec 2004
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Blaming boomers for why you can’t afford a home is just silly. When those boomers bought homes in 1980 for ~$80k (am I high? low?), interest rates were around 18%, with a government rebate getting them down to around 12% (someone please correct me if I’m wrong).

$80,000 over 25 years @ 12% interest
= $826/month, in 1980
= $2726/month, in 2019 buying power (https://data.bls.gov/cgi-bin/cpicalc...1&year2=201909)

$2700 is the monthly payment on a $590k mortgage @ 2.7% interest, today.
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