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Make Me Smart

The long game of high interest rates

Jun 1, 2024
The podcast delves into the potential impact of high interest rates on various aspects of the economy, including housing and zero-down mortgages. They also discuss the discontinuation of the Chevy Malibu, digital offshoring, and the acquisition of Anchor Brewing Company. The hosts explore the evolving dynamics of merchandising and emphasize the importance of listener support.
21:40

Podcast summary created with Snipd AI

Quick takeaways

  • Higher interest rates will impact low-income individuals more due to increased costs of borrowing and daily expenses.
  • Risks associated with zero-down mortgages and adjustable-rate mortgages highlight potential financial challenges, especially in a declining housing market.

Deep dives

Impact of Interest Rates on Lower Income Groups

Interest rates are projected to stay high, affecting mortgages, car loans, and credit card rates. This will disproportionately impact lower-income individuals who allocate a larger portion of their income to these payments. The higher cost of borrowing, coupled with higher prices, creates financial challenges, especially for those using credit cards for daily expenses. The Biden administration's efforts to promote a strong economy face difficulties due to the rising costs, particularly in credit card debt.

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