Why do Boomers get so defensive about mortgage interest rates???

[chrisd]

I sat here and wrote a long story of being 73 years old, and the huge differences of then, and now, but in the end I scrapped it because I've been through all those, and these years, and conclude that life is never easy for any age group.

 

[PhilTheFragger]

I sat here and wrote a long story of being 73 years old, and the huge differences of then, and now, but in the end I scrapped it because I've been through all those, and these years, and conclude that life is never easy for any age group.

Good to hear from you Grandad

 

[Old Boy]

I sat here and wrote a long story of being 73 years old, and the huge differences of then, and now, but in the end I scrapped it because I've been through all those, and these years, and conclude that life is never easy for any age group.

That was the point I was attempting to make with my comparison of the relative effects of interest rates upon incomes.

It is often overlooked that rates influence house prices.

A prolonged period of rates at 1980's levels would see a dramatic effect upon prices.

No point in asking a price that no one can afford due to the mortgage repayments.

 

[IanM]

Several "older" folk making the same point, about how times change, but there's always a challenge.

Two things occur to me, you have to get to be a certain age before you realise it, and secondly, I bet when I was 25 I told my dad how much tougher I had it due to the (80s) house price boom and high interest rates!