(07-18-2024, 02:26 PM)jagibelieve Wrote:

(07-18-2024, 01:23 PM)mikesez Wrote: The economy is great if you locked in a low mortgage rate before 2021 and don't plan to move. It's excellent actually.
If you're in that situation, your wages have almost certainly kept up with your personal increase in living expenses.

Not really.

We had a low rate mortgage prior to 2021 and through our hard work and saving over the years, we were able to pay our mortgage off and live pretty much debt free.  However, with the cost of fuel, supplies, animal feed, etc. it's getting pretty tough to get by.

Our situation (my wife and I) is different than most "average" people.  Our "wages" come from retirement income as well as the small bit that we earn from what we produce on our small farm.  Our income is certainly not keeping up with our expenses.

It's worse for a lot of people in our small town.