• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

We survived all that

Status
Not open for further replies.

Riick

Thread Starter
Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
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
.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks