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A comment on The Long History of Nobody Wants to Work Anymore. Parent comment

Re:The Long History of Nobody Wants to Work Anymore by vel0city on Sunday July 30, 2023 @02:21PM (#36934315)
As a percentage of income that 78/480 is probably less in the monthly payment than the 10/30 or at least in the same ballpark, since interest rates back then were probably much higher for the 10/30 loan, assuming equal percentage down payments and same terms and what not.
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Re:The Long History of Nobody Wants to Work Anymore by grecy on Sunday July 30, 2023 @03:15PM (#36934862)
Back in the day when Dad earned $10k/year and saved 30% he had the full house price in ten years ($30k), so it was much easier to have a much larger percentage as a downpayment, or in fact, not get a loan at all.

Now saving 30% a year of a $78k income means you have to save for 20 years to have the full price of the house. ($480k), so you're forced to get a loan, and likely a much bigger loan

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