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A comment on October had the biggest U.S. inflation surge in more than 30 years. Parent comment
Except this is not comparable to most of the 70s at all.
Household leverage and disposable income change how serviceable debt is at different rates.
The numbers I saw puts a 2021 mortgage rate of 3% at an equivalent benchmark rate "in your pocketbook feels" as a 6% rate in pre gfc 2007.
Are you sure 10% doesn't warrant the same emergency as the high-teens of the 70s?
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Except this is not comparable to most of the 70s at all.
Household leverage and disposable income change how serviceable debt is at different rates.
The numbers I saw puts a 2021 mortgage rate of 3% at an equivalent benchmark rate "in your pocketbook feels" as a 6% rate in pre gfc 2007.
Are you sure 10% doesn't warrant the same emergency as the high-teens of the 70s?