Eh if you kept a job in the late 70s / early 80s and paid off your house you did great. With 13% interest, the resulting house prices you could afford to take a 15 yr loan on and pay it off.
I'm not saying it's great. I'm saying there are people who do well in every time period. It may just be harder to do. The people who drive the business cycle certainly profit on both ends.
I remember my parents talking about buying the house they lived in when I was born in the early 80s for 30k. Yeah, it was a shanty by modern standards but I clearly haven't frozen or starved to death so it must have done it's job. My mom always talked so great about the neighbors and such too. I barely remember it we moved around when I started school. I think I've heard my Dad made something like 20k or 25k salary at the time. Totally do-able for a functional house even with crazy interest.
Eh if you kept a job in the late 70s / early 80s and paid off your house you did great. With 13% interest, the resulting house prices you could afford to take a 15 yr loan on and pay it off.
I'm not saying it's great. I'm saying there are people who do well in every time period. It may just be harder to do. The people who drive the business cycle certainly profit on both ends.
I remember my parents talking about buying the house they lived in when I was born in the early 80s for 30k. Yeah, it was a shanty by modern standards but I clearly haven't frozen or starved to death so it must have done it's job. My mom always talked so great about the neighbors and such too. I barely remember it we moved around when I started school. I think I've heard my Dad made something like 20k or 25k salary at the time. Totally do-able for a functional house even with crazy interest.
Yep my buddy at work said he paid 70 in Arizona. He must live in a mansion.
He was a sales guy so I have no idea how much he made. He told me he paid off the house.