I read this story on American mortgage rates and immediately thought of 2008 and the Financial Crash. If you have seen The Big Short you’ll see the similarities in this story.
The Bloomberg story notes “The last time 30-year rates were that high was late 2008. For now, 30-year mortgage rates that have more than doubled from January 2021’s record low are deepening an affordability crisis that’s been building throughout the pandemic as home prices soared.“
It started in America long before it happened here. Will we see an orderly cool-down of the economy? Or a crash as people scramble to stay ahead of the cost-of-living crisis?
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