How Rising Rates Will Impact Home Affordability
In Wednesday's column, I wrote about home affordability and the prudence of buying or refinancing now for those who have an interest in and ability to do so. Today, I'm going to consider the math behind that general advice.
Regardless of how optimistic anyone is about the U.S. economy's ability to organically grow out of the sovereign debt levels that are now being accumulated, by the time the economy is on a path of secular growth, sovereign debt service as a percentage of tax receipts on the current trajectory will be perilously close to the terminal point I discussed in November, which will mandate the Federal Reserve having to attempt to partially inflate away the value of the debt....510 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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