tag:blogger.com,1999:blog-6061465469415478400.post2208429225995698182..comments2023-10-04T10:31:37.083+01:00Comments on Young People's Party (UK): Reader's Letter Of The DayMark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6061465469415478400.post-64980456973714187792016-10-04T18:22:21.683+01:002016-10-04T18:22:21.683+01:00BB I am a baby boomer and know about my parents pa...BB I am a baby boomer and know about my parents paying off a mortgage after about 12 years, same for me. By and large, buying a house was a doddle and much cheaper than renting. a high nominal interest at rate on a small mortgage being eroded by inflation (i.e. a negative real interest rate) was not a lot of money.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-6061465469415478400.post-63460776891002828672016-10-04T14:18:49.499+01:002016-10-04T14:18:49.499+01:00No criticism allowed...No criticism allowed...bellebrisehttps://www.blogger.com/profile/14846376462657588541noreply@blogger.comtag:blogger.com,1999:blog-6061465469415478400.post-83147959052559757752016-10-03T17:49:38.713+01:002016-10-03T17:49:38.713+01:00To say that baby boomers "bought their homes ...To say that baby boomers "bought their homes for a song 20 or more years ago" is incorrect. Baby boomers had to save sufficient money to cover the difference between 2.5 times salary and the cost of the house. Savings earned around 6% interest. The mortgage was repaid at 13% interest. Not easy.bellebrisehttps://www.blogger.com/profile/14846376462657588541noreply@blogger.com