(11 hours ago)727Sky Wrote: America just a few short years ago you could get breakfast for 2 at many places for less the 12 to 15$... Now that same breakfast will cost over $40.. Automobiles for $35,000 or less are now 50 to 70,000$.. They are thinking about a 50 year home mortgage so people can afford the monthly payments !! You would be retired before your house was paid off !! Glad I had a good life when I did because this new crop is gonna suffer IMO.
Germany offers an instructive example. The parents, who have a mortgage on a house, will the house and mortgage to one of their children, who has to sign a contract stipulating EXACTLY what services and assistances they will perform for the parents until death do the child and parents part. I think the mortgages are usually paid off by the second generation, but am not sure.
Yeah, the old days were affordable. Any more, not so much.
Fire In The Hole