I mean it more like if you would have borred 100K for a house in the 70s that was a lot of money, if you still live in that house you probably paid it back, but even if you didn’t 100K today isn’t that much money anymore
That’s a historically unusual artifact of the financialized housing market in a country where the population outpaces new available housing units while the economy continues to grow.
Go to Italy or - God forbid - Iraq or Ukraine or Myanmar, and you’ll find record inflation combined with falling real estate values. Buying a home in Lebanon or El Salvador or Bulgaria in 1975 wasn’t a good move. You had to be a certain proximity near the US/EU money printing machines and a distance from the US/Russia bomb dropping machines to get that arbitrage to work.
I mean it more like if you would have borred 100K for a house in the 70s that was a lot of money, if you still live in that house you probably paid it back, but even if you didn’t 100K today isn’t that much money anymore
That’s a historically unusual artifact of the financialized housing market in a country where the population outpaces new available housing units while the economy continues to grow.
Go to Italy or - God forbid - Iraq or Ukraine or Myanmar, and you’ll find record inflation combined with falling real estate values. Buying a home in Lebanon or El Salvador or Bulgaria in 1975 wasn’t a good move. You had to be a certain proximity near the US/EU money printing machines and a distance from the US/Russia bomb dropping machines to get that arbitrage to work.