Posted 9/28/2023 10:09 (#10419705 - in reply to #10419452) Subject: RE: Just an fyi
west central ohio
tmrand - 9/28/2023 08:23
Mike Shimek - 9/28/2023 06:15
Inventory down? Lots of red dots on Zillow. I laugh at these so called high interest rates. Bought my first place at 12.65% interest.
You're another one of those guys that still doesn't get it. The effective interest rate is just as high as the 70s/80s now................maybe higher.
Neither of you guys are wrong. The interest rate number is not as high as the 12.6% as mentioned, but the dollar amounts that are being used are 10x's higher. I.E. a new car in the 70s-80s was 5-7K . today they are 50-70k . So that 6-9% interest of today is much more of a hardship than the 12% of yesterday. Compiling numbers will take you out, in just the same way investors/bankers rely on it for their cozy living.
Just an fyi
