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b_b · 3448 days ago · link · · parent · post: American homeownership is at its lowest since 1967... and is still falling.
Yeah, because it means the eventual unwinding of the gravy train that they've had for the better part of a decade. Youngsters these days don't even know what a savings account with a return looks like. It's ancient history. It shouldn't be. Who the hell would even buy a 5 year CD at 2% (which as of writing this is what Ally is offering, and I'm told they're the good one) when you can make 10, 20, 30% in the market if you have a little luck? I would be scared too if my business were dependent on people throwing money at me because they don't have anything else to do with it.The street is absolutely batshit beside itself over the notion that Yellen might throw 25 basis points in September.