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ID NUMBER: 4031 QUESTION 24 At the beginning of 1998 fixed mortgage rates were 84%, and expected inflation for 1998 was 100% in Turkey. The

ID NUMBER: 4031

QUESTION 24 At the beginning of 1998 fixed mortgage rates were 84%, and expected inflation for 1998 was 100% in Turkey. The expectation of the inflation rates were not less than 100% for a long time. Under these circumstances is it logical to buy houses? Why or why not? Explain your reason. (15 points)

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