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I cannot for the life of me understand how people bought houses in the 80s when rates were briefly at 20% before settling into the 'manageable' low teens
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My first mortgage was in 1984 @ 17.7%. Beautiful little airplane bungalow in the oldest part of town. 40k.
And yes contraction of the money supply is exactly set up to slow down the housing market. Hope it works. I’m headed out of this area soon enough. Will definitely be a shoebox instead of a palace as I set up for the 3rd and 4th quarter of life.