re: interest rates on home mortgages wont fall anytime soon

quote:

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Overall, the average person is worse off today than then in terms of purchasing power, but likely lives a more luxurious life.

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This right here. It seems a lot of people learned to live without the newest and shiniest objects back in the day. They had Formica countertops, carpeting, rarely ate out, bought used cars, repaired holes in jeans, ate leftovers, only had one family car, had one TV, lived in much smaller houses, took one moderate vacation a year if you were lucky etc…

Now a days a lot of people take more vacations, eat out a lot more, have way more vehicles, a tv in every room, handheld devices, a lot more subscriptions, credit card debt, etc…