Biden puts a cap on rent hikes.

lol thank you

@KingofBones1 interest rates are kind of normal for the first time in a long time though. They just feel high because they've been abnormally low for so long. Interest rates should only come down a little bit. It's the home and big purchase prices we need to see come down to affordability again. The higher rates adds some of the downward pressure.

More affordable assets give regular people a chance to acquire some wealth.

Cheaper credit (interest rates) gives people easier access to accrue debt which often manages to fuck them over.

@ViciDraco I was actually speaking of the home loan interest rates. Credit card rates however should be kept it in affordable level so that those also who normally wouldn't have access to build their credit should be able to do so without going overboard of course. Home loan interest rates are astronomical right now and I'm sorry to tell you this is really screwing the economy. As well as working folks trying to get a place to live and now being forced to rent and astronomical rates that will never own a home. Lucky for me I went through the VA when I did and my rate is permanently fixed at 3.9

@KingofBones1 You are old enough to know that home loan interest rates are about normal now. They are on par with what we had in the 90s and early 2000s, which were lower lower than the 80s and way lower than the 70s. Home loan interest rates rates have been abnormally low for 15 years because Fed rates were cut in response in the 07/08 crash and never normalized. Those rates are now normalizing.

The reason 6% and 7% interest rates feel so high is because base house values are way overinflated.

A lot of people with houses want to blame the interest rates because they like their property values high. But historically, interest rates are not that high right now. It is the properties values that are too high and need to come down.