> Forget comparing old builds to new builds
Why? It's extremely relevant.
> In the 80s you could get a 15-20 year mortgage at 20%
20% was the rate for 30 year mortgage in the 1980s. My source is specifically for 30 year mortgages.
> If your monthly payment today is less than it would be at 20%, it is only because you are expected to be paying for it at least an extra 10 years compared to the past
That's a gross overgeneralization. Interest rates are lower across the board today.
> If your monthly payment today is less than it would be at 20%, it is only because you are expected to be paying for it at least an extra 10 years compared to the past
I never said they weren't but you also haven't provided any evidence that arent.
> And that's before even thinking about how salaries haven't grown anywhere near as quickly as real estate prices
You're literally just repeating your original claim with no new evidence.
Why? It's extremely relevant.
> In the 80s you could get a 15-20 year mortgage at 20%
20% was the rate for 30 year mortgage in the 1980s. My source is specifically for 30 year mortgages.
> If your monthly payment today is less than it would be at 20%, it is only because you are expected to be paying for it at least an extra 10 years compared to the past
That's a gross overgeneralization. Interest rates are lower across the board today.
> If your monthly payment today is less than it would be at 20%, it is only because you are expected to be paying for it at least an extra 10 years compared to the past
I never said they weren't but you also haven't provided any evidence that arent.
> And that's before even thinking about how salaries haven't grown anywhere near as quickly as real estate prices
You're literally just repeating your original claim with no new evidence.