this post was submitted on 09 Jun 2023
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I remember paying 22.5% interest on my mortgage when I was young.
Buckle up
When mortgages were 100k.
22.5% today would cause literal riots in the streets.
This is Canada, we don't riot. Maybe QC.
I can still see my pregnant wife with our toddler by her side standing in front of an empty pantry.
Things were tough
Good old stagflation. That's what's worrying with the return to rate hikes.