The difference between now and 1980 is the price of the homes. In 1982 I was building town houses selling for about $75,000 and the variable interest rates were about 9%. Today that same town house is selling for about $300,000 so even with 5% that is a lot of money for these poor kids who are buying their first homes. Also don't forget the R.E. Taxes plus all the increases in costs due to bad policies by this administration.
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