alt Hacker NewsIt still won't cause that. People will own less expensive things if the all in cost of owning them goes up. This is econ 101. People buy cheaper houses when interest rates go up and vice versa.
It still won't cause that. People will own less expensive things if the all in cost of owning them goes up. This is econ 101. People buy cheaper houses when interest rates go up and vice versa.
Tell that to people who can't even afford rent. Some goods are inelastic because people need them at any price. Housing prices are good example of that. This is also econ 101.