The affordability of homes goes beyond just interest rates. While it is true that Millennials have had access to low-interest home loans, they face a variety of other challenges that Boomers did not face when buying homes. For instance, Millennials have higher levels of student loan debt, which makes it harder for them to save for a down payment. Additionally, the rising cost of homes relative to incomes in many markets has made it difficult for Millennials to afford homes even with low-interest rates.

The historical context of interest rates is important. While it is true that Boomers faced higher interest rates in the past, they also benefited from a period of higher inflation that drove up wages and home values. In contrast, Millennials are facing lower inflation and slower wage growth, which makes it more challenging to build wealth and afford homes even with low-interest rates. The current economic context is different from that of the past, and comparing interest rates alone may not provide a full picture of the challenges that Millennials face when trying to buy homes.

Thanks for taking the time to read and comment Jim!