Originally Posted by
Retread
That is ONE broad paint brush. Please give some of us credit...we do understand inflation!
Agreed, a broad statement without much validity.
As an example, take a "boomer" that was trying to buy a house during some most recent high inflation periods (70's-80's) and the corresponding double digit mortgage rates.
That's when a simple way to calculate a mortgage payment (- taxes/escrows) was take the home price and take off the last 2 zeros +/-.
I'm pretty sure people now can't even fathom a $5000 house payment on a 500,000 home. Or back then, a 60-80K home (as an average) with a $6-800/month payment, etc