[Lhiw]

> So around 10%. Comparable to most of the 70s, but not the high-teens emergency points.

Except this is not comparable to most of the 70s at all.

Household leverage and disposable income change how serviceable debt is at different rates.

The numbers I saw puts a 2021 mortgage rate of 3% at an equivalent benchmark rate "in your pocketbook feels" as a 6% rate in pre gfc 2007.

Are you sure 10% doesn't warrant the same emergency as the high-teens of the 70s?