President Trump: The NEW one and only politics thread

Generally, they're not.

In the late 70s-early 80s, they were suffocating. October 1981: 18.63%

A 30-year, $200K mortgage at that rate would set you back $1,122,180

At today's rates it would set you back $360,548.

 

A $200,000 house in 1981 was a mansion.

 

You're buying completely different houses, though. A $200,00 house in 1981 is massive. Today it's a simple two bedroom home. So your capital to afford those mortgage rates is completely different if you're buying a $200k house in 1981 than if you are today.

 

In other news, Trump cheats at golf.

 

Completely agree. I’m working two full-time jobs just to have the buying power and insurance my parents had working simple factory jobs a generation ago.

 

We'll, I already pointed out that a $40K mortgage in 1980 would cost four times as much by the time it was paid off. Today's mortgages usually don't even cost twice as much.

 

That needs to be the final comment on the 10,000th page of this thread, then lock it up, and see if we can reach 10,000 more pages on the flip side.

 

I think this pretty well summarizes The One And Only Party of True Christian American Family Values.

 

I know I’m sticking my head in the lion’s mouth here but ... college DEBT is not a necessity. Our society treats it as such, but it’s simply not true. While there are hard-luck cases, in many instances, it’s the debt we choose to take on — credit cards, financing new cars over long terms with little cash down, buying too much house — that leaves no option but borrowing for college too. Then we graduate with the equivalent of a small mortgage and the cycle continues.

Maybe things get bad enough some day that we experience a real “cash is king” revolution. Maybe the sub-prime auto lending situation implodes to the point that those rates go through the roof and the way we approach personal finance shifts. Something has to change and I don’t think people are going to make the decision on their own en masse.

 

Everyone will have to sacrifice at some point ... and the longer we put it off, the harder it will be.
Of course, it makes it so much worse for the working stiffs when corporations and the super-rich keep getting tax cuts.

 

Human Paraquat-
Something has to change is right, and they can start with student loan forgiveness.

 

Once the Dem investigation machine gets going next year, we'll be putting on 50 pages a day.