r/SipsTea • u/late_to_redd1t • 21h ago

SMH The advice didn't age well.

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u/TelephoneNorth8640 18h ago

Why do people think the 80s were a boon? People struggled. Remember mortgage rates were over 15% at points, and averaged around 11%. Sure houses were cheap, because financing was so expensive...

15

u/Atomic-Avocado 17h ago

Houses were cheap because there were way less people and boomers had an exodus from cities into brand new suburbs. Houses are expensive now mostly because cities refuse to allow new dense housing to be built where people want to move

9

u/Inf1z 17h ago

Houses became an investment so many people and companies began buying houses to rent because of passive income.

-3

u/Thiswas2hard 16h ago

About the same number people own homes now then they did in the 80’s. Biggest problem is we stopped building homes at the same rate after 08.