[eyeamok]

Bring back 20% Home Mortgages . let’s see how the youngins react

[srmanuel]

We either headed for that or hyper inflation equal to the Weimer Republic.....

[usconservative]

Bring back 20% Home Mortgages . let’s see how the youngins react

I was almost 16 when Jimmy Carter took office, so I'm struggling to remember how high interest rates and home mortgages got during that time. I do remember at one point having enough money to put into a CD that earned somewhere between 14% - 15% interest (at least that's my memory. It may be incorrect.) How high were home mortgages back then?

When I got my first home mortgage in late 1986, it was 9.75%. That much I do remember.

[usconservative]

Nevermind, I found them. Here's the highest home mortgage interest rate:

Interest rates reached their highest point in modern history in 1981 when the annual average was 16.63%, according to the Freddie Mac data. Fixed rates declined from there, but they finished the decade around 10%. The 1980s were an expensive time to borrow money.

Source: https://www.rocketmortgage.com/learn/historical-mortgage-rates-30-year-fixed

[cableguymn]

Wait till their credit cards are 39.999%

[fso301]

Bring back 20% Home Mortgages . let’s see how the youngins react

Of course it will also crush home prices.