you are viewing a single comment's thread
view the rest of the comments
[–] 10 points 2 months ago (3 children)

I am old enough to remember when a simple savings account at the bank was 5% interest, no minimum balance. Now grabbing a high yield account of 3.5% is doing well for the average person, and requires a high balance to qualify for that "incredible" rate.

  • source
  • parent
  • hideshow 3 child comments
  • [–] 6 points 2 months ago (2 children)

    Yes but a mortgage was 11%.

    Now housing was still affordable then, so…

  • source
  • parent
  • hideshow 2 child comments
  • [–] 7 points 2 months ago (1 child)

    Housing was affordable and wages hadn't fully flatlined, so a single income family could still possibly pay that mortgage, even pay extra against the rate, and support a family. Definitely a lot more than one single rate number, lots of things are broken.

  • source
  • parent
  • hideshow 1 child comment