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re: The 'lost generation' of millennials born in the 1980s may never be as rich as their paren
Posted on 5/25/18 at 1:19 pm to RogerTheShrubber
Posted on 5/25/18 at 1:19 pm to RogerTheShrubber
quote:
Correct. The first new car I bought had a 21% interest rate in the early 80's. My note was $410 a month in 1982.
That’s why you should buy cars in cash. I’ve never had a car payment.
And you should never buy a house with an ARM.
But I’m just a dumb millenial that doesn’t understand economics 101!
This post was edited on 5/25/18 at 1:20 pm
2
Posted on 5/25/18 at 1:25 pm to cahoots
quote:Well that's just silly.
That’s why you should buy cars in cash. I’ve never had a car payment.
My rate is 1.9%! LOL
quote:
And you should never buy a house with an ARM.
Never say never.
I mean, I've never done the ARM. But, do I really need to spell out for you when an ARM might be the right call?
quote:Well. You were 0 for 2 there. So............
ut I’m just a dumb millenial that doesn’t understand economics 101!
Posted on 5/25/18 at 1:27 pm to cahoots
quote:
And you should never buy a house with an ARM.
But I’m just a dumb millenial that doesn’t understand economics 101!
So if you're in the housing market during that time period you would find a way to avoid high interest rates?
However if you did have an ARM in the 70's and 80's you would have benefitted when the rates dropped.
Unless you're paying cash for your house, that wasn't happening chief, regardless of how much you think you understand economics.
This post was edited on 5/25/18 at 1:30 pm
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