I liked the last line the most .. I think we've all gotten accustomed to zero interests, and this has changed our behavior. My father to a large extend screwed up his (and our family's) life because he lived in an era of high rates. He did not understand the world had changed. We could have bought a house for cash in 1995 but he chose to rent. After that, it was always a bubble, with no buying opportunity like 1995 ever.
It makes me wonder if all of us have similarly not realized the world is a different place post rate hikes. There is this inevitable dogma that "rates will go back down". A lot of people are making that bet and I wonder if it is just history again.
What I don't understand is what is driving the US economy today. It seems to be firing on all if not most cylinders. People I know who got laid off are finding work (I hear negative experiences too and feel for those people). Hiring in tech seems like it is picking up.
I liked the last line the most .. I think we've all gotten accustomed to zero interests, and this has changed our behavior. My father to a large extend screwed up his (and our family's) life because he lived in an era of high rates. He did not understand the world had changed. We could have bought a house for cash in 1995 but he chose to rent. After that, it was always a bubble, with no buying opportunity like 1995 ever.
It makes me wonder if all of us have similarly not realized the world is a different place post rate hikes. There is this inevitable dogma that "rates will go back down". A lot of people are making that bet and I wonder if it is just history again.
What I don't understand is what is driving the US economy today. It seems to be firing on all if not most cylinders. People I know who got laid off are finding work (I hear negative experiences too and feel for those people). Hiring in tech seems like it is picking up.