Interest rates wouldn't be so bad if home prices and wages kept pace over the years. Even though 6% isn't grossly high historically, it is certainly worse when you consider mortgages are at least 4-5 times larger now than they were when interest rates were as high or higher, and that more monthly income goes to paying mortgages. For people lucky enough to have a mortgage of course, assuming you can still pay.
__________________
"A pessimist thinks things can't get any worse. An optimist knows they can."
|