Re:The long, slow, rotten march of progress
by accountyaccount on Friday June 02, 2017 @09:33PM
(#14474459)
>Poor people are massively more likely to benefit from low interest rates than to be hurt by it.
We're talking about homes here right? Take a look at major cities across the country, poor people aren't buying homes — developers are, and they're renting them to the poor.
The type of interest the poor are paying is on credit cards, cars, and payday loans. The poor often don't even have bank accounts.
Re:The long, slow, rotten march of progress
by XorNot on Friday June 02, 2017 @10:06PM
(#14474588)
Depends who you're talking about here. The poor aren't even those below the poverty line in this comparison - it's those who consider themselves middle-class (but are slipping out of it more and more each year).
We're talking about homes here right? Take a look at major cities across the country, poor people aren't buying homes — developers are, and they're renting them to the poor.
The type of interest the poor are paying is on credit cards, cars, and payday loans. The poor often don't even have bank accounts.