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nfinf  7mo ago (nfinf.substack.com)   2014 thread views

How good the boomers had it

nfinf.substack.com

Inspired by some of the conversations we had here about the experiences of previous generations (especially with /u/the_nybbler, and yes, I know you're not a boomer), I wrote up a post that challenges a common narrative of how good the boomers had, and how screwed the millennials are. Main point is that the houses were not that much cheaper relative to now, and the interests rates were murderous. Enjoy!

(I'm a regular poster here, but I wanted to separate the identities for opsec purposes).

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Moreover, home ownership rates are unchanged over the past 60 years, at around 60-65%.

Just a side-note, homeownership rates aren't very meaningful for affordability. If the government introduces a new 100% tax on all new cars (it goes towards kicking puppies and parking studies), the calculation to decide between leasing (at 2x the rate) vs buying with a loan (at 2x the price) is essentially the same for car-users as before, the 2s cancel. That does not tell you anything about the harm/fairness/cost of that tax.

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