That's an oversimplification. Voters 22-29, now 67-74, voted 44% Reagan, 44% Carter. Those who voted for Reagan were *against* 15% mortgage rates, gasoline rationing, and stagflation. So the narrative is that Boomers were 25-year-olds planning to steal money from their granddkids 40 years later?
Thank you so much for adding this.
My pleasure. The youngsters oversimplify what really happened. I don't remember getting a mortgage being easy. My first house was in 1987. $85k for an 1100-sq-foot house, on a $32k salary, with a 12.4% 30-year fixed. $1200 mortage on $2100 monthly take-home pay. Not easy.
No, not easy. I get the feeling they can't wait to see the backside of us because of oversimplifications like this. Rather chilling.
I remember in the late 1980s my folks had the house I grew up in - a beautiful 5BR Victorian - and were paying a mortage of $116. But that's because they bought in in 1960, when Dad made $6k a year. So the narrative "why am I paying so much while you pay so little for a big house?" is self-serving.
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ropercenter.cornell.edu/how-groups-v...