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https://econjared.substack.com/p/are-there-cracks-developing-in-the/comment/147053902

Julian Bene on Jared’s Substack

Thank you. I'm old enough to remember the high-inflation 70s, when smarter folks than I held their noses and bought at high interest rates, figuring both home prices and their pay would rise quickly enough to make it all work out. That game was disastrous more recently in the 2000s sub-prime debacle, of course. And currently, inflation is nowhere close to the 1970s and not likely to be, so perhaps a useless analogy.



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Julian Bene on Jared’s Substack

https://econjared.substack.com/p/are-there-cracks-developing-in-the/comment/147053902

Thank you. I'm old enough to remember the high-inflation 70s, when smarter folks than I held their noses and bought at high interest rates, figuring both home prices and their pay would rise quickly enough to make it all work out. That game was disastrous more recently in the 2000s sub-prime debacle, of course. And currently, inflation is nowhere close to the 1970s and not likely to be, so perhaps a useless analogy.



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https://econjared.substack.com/p/are-there-cracks-developing-in-the/comment/147053902

Julian Bene on Jared’s Substack

Thank you. I'm old enough to remember the high-inflation 70s, when smarter folks than I held their noses and bought at high interest rates, figuring both home prices and their pay would rise quickly enough to make it all work out. That game was disastrous more recently in the 2000s sub-prime debacle, of course. And currently, inflation is nowhere close to the 1970s and not likely to be, so perhaps a useless analogy.

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      Thank you. I'm old enough to remember the high-inflation 70s, when smarter folks than I held their noses and bought at high interest rates, figuring both home prices and their pay would rise quickly enough to make it all work out. That game was disastrous more recently in the 2000s sub-prime debacle, of course. And currently, inflation is nowhere close to the 1970s and not likely to be, so perhaps a useless analogy.
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