History may need to repeat itself.
If we think back in the old days, the days when we were still refugee, what happened to the interest rates of America in the early 1980s? People were buying houses at 20% interest rate and they were not complaining as how we are right now. They were only making $3 an hour or something like that but yet, they were able to afford a house because housing was cheap. Even if they make $3 an hour, if they save up 5 years worth, they can cash out on a house. These days, you make more money but you have to go long term like 25 years to pay off your house. Some people can afford $2,500 rent but yet the bank does not qualify them for a $1,700 mortgage. Does this make any sense to you?
Now lets talk more about interest rate. What happened when interest rate is high back in the early days of our parents and the wave of refugees? The doors of America opens up and immigrants like your parents be coming on over. They worked odd jobs which creates more goods and with more goods and demands, things became cheaper to buy. With more people in America, more demand for goods and lower prices so the economy be thriving at the right pace. Interest rates fell and inflation is on a steady.
You know that if it was up to the Democrat, more refugee will come into the America right now to help out with the job market and to help lower the interest rate. More people working = booming economy. However, the people or shall I say, the Republicans are not having it. These days, they put a cap on how many immigrants can come to the usa and you see that war in Ukraine? There goes the democrat answer for new immigrants to help his agenda. You want lower interest rate and a booming economy? Bring more immigrants so they can work the jobs of them privilege Americans that doesn't want to work. The great Resignation anyone?
Something to think about