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We survived all that

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Thread Starter
Elite Member
Aug 14, 2007
Professional Status
Certified Residential Appraiser
In the interest of my own sanity, today I spent some time looking at a MB/LO site. I came across this post and wanted to share it.

It was worse in the late 1970s and early 1980s.
Interest Rates were at 14%. Prime was 12 or 13%.
People were buying homes on Land Contracts, Lease-Options and private mortgages.
The housing market came to a complete halt. No one built and no one bought.
The dollar lost 40% of its value from 1978 to 1981. Inflation was at double digit numbers.
Unemployment was 8-10%. It was a scary time
(( http://forum.brokeroutpost.com/loans/forum/2/188501.htm ))

I was there, and remember the interest rates and the housing market – such as it was. We survived all that.
Yes the dollar lost purchasing power 40% -- (50% between 1977 and 1981) see: http://www.measuringworth.com/ppowerus/
(Try plugging in $1,000 and the years 1977 and 1981)

It is time to keep your head above water, “Keep on truckin'and ▄ http://www.youtube.com/watch?v=GdaM8mxEBtY
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