Rates Need to Be Raised as High as 35% to Undo the Rampant Inflation of the Last Year and a Half

by Chris Black

We have seen things never before seen in the history of the USA. 

Homes have never appreciated in value so much is such a short time. 

You aren’t talking 20% over a year. It has been 20% per month in many locations.

 I’ve seen homes go on the market for $275k sell for $400k, and then any other similar home going up list for $380k hoping to get $450k. 

Affordable areas jumped to the same prices as homes in upper class gated communities from two years ago.

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Never before in history have ten year old common used cars with 100k miles on them sold for more than they did new, and in fact sell for more than a brand new model.

 Used 2012 Corollas that sold for $16k new are being priced at $22k. 

They won’t sell if the interest rate on a car loan is 38%. 

The same with overpriced homes.

This isn’t the 1970s. 

We are rapidly closing in on the Weimar Republic.

 

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