The phenomenon of houses appearing cheap in the 1970s and 1980s is misleading—family income was only $10,000 in 1970, and mortgages look cheap in retrospect only because inflation has slowly eroded the value of money over time, making it easier to repay debt in devalued dollars.

causalpending

Speaker

Unidentified Speaker — Buffett's Honest Thoughts on the US Debt Situation. [x7orlIiv4f8]

Evidence Quote

The reason the mortgage looks so cheap back then is because inflation has done its thing slowly over time

Source

Buffett's Honest Thoughts on the US Debt Situation.New Money
Created: 8/12/2026, 6:14:17 PM

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