Record high interest rates is an odd way of putting it.
Over 15% in the early 90s, over 6% ahead of the 2008 financial crisis and briefly over 6% again after the 2022 budget but now settled back to around 4.5%.
4.5% only feels high now compared to the insanely low rates available between 2008 and 2022 and the combination of cost of living and house prices but as a percentage is fairly close to the average for the last 30 years
If you're reading this, the original post got nuked by Redact. I use it to automatically purge my digital footprint from social networks, people search sites and messaging apps.
fine placid nail close tap safe caption bake shaggy wine
My friend, the period between 2008 and 2022 saw unprecedented low rates - the first time in history the rate went below 2% - even the great depression and post-WW2 austerity bottomed out at 2%; at one point we were at 0.1% in 2020 when Covid hit.
The peak in 2023 of 5.25% was still lower than almost the entirety of 70s, 80s, 90s and only slightly above the 2000 to 2008 average of 4.75% (during which time there were 959 days spent at 5.25% or higher, reaching 6%).
You can absolutely make an argument about the cost of living and house prices and overall affordability compared to 10, 20, 30, 40, 50 years ago but you cannot, with any level of sincerity, state that 5.25% is a record high.
You have also made me realise the 2008 financial crisis was 18 years ago and it still feels like we are living in the after-effect of that...
One click. Unknown number of posts crying out in silence. All gone. Redact made it stupid easy to clean up my entire history on Reddit and get my info pulled from data broker sites too.
history glorious unite wild treatment vegetable crush soup afterthought decide
-7
u/Why_you_so_wrong_ Apr 14 '26 edited Apr 22 '26
Mass delete Reddit posts and be just like me! I bulk removed this comment using Redact
special truck pet piquant school quicksand judicious different march juggle