US Home Prices Rose For 12th Straight Month In January, Despite Soaring Rates (As Consumer Confidence Shrinks)

Confounded Interest ^ | 03/26/2024 | Anthony B. Sanders

[Robert DeLong]

Vietnam I assume, but Carter didn't actually take office until Jan. 20, 1977. Ford was the president, after Nixon was forced out over the BS Watergate nonsense. The gas shortages hit in 1973 bout a year before Nixon stepped down and ran through 1979. The gas shortage started the inflation ball rolling with higher gas prices, but the ineffective leadership of Carter after Iran revolutionaries seized our embassy, it started to skyrocket, and exposed our vulnerability as the sole superpower.

Yes, it was beneficial for the money markets. in mid 1980 I started working at a Savings & Loan, and were booming A Wa gold. 🙂

[napscoordinator]

My parents bought a home in 1976 for 46K. A split level 3 bedroom two bath. Those were the days. Now it’d be 400K. Crazy!

[Robert DeLong]

True for homeowners, because they had something to sell. First time buyers had to save, and inflation coupled with stagnation made saving hard. 🙂

[moovova]

“Vietnam”

No, I was in Sicily...Sigonella...for the gas crunch. I remember seeing the US gas pump lines on TV. US military was lucky. We were given a gas allotment at roughly half price...60, maybe 100 liters? LOL...don’t remember now.

Besides inflation, the main thing I remember Carter for was the failed embassy rescue.

[Robert DeLong]

I remember him for a failed presidency. 😋

[napscoordinator]

That’s true. Although the house they sold was tiny. I mean I was 5 and thought it was huge. But went back to see it as an adult and was shocked at her w small it was. It was a ranch style block. lol.

[Robert DeLong]

BTW, my parents bought a house in a middle class neighborhood with 4 bedrooms & 3 baths split level like the one you described, for 26K in 1964, in northern Va. In the 80s I went to visit an old neighbor who was the mother of my closet friend. I was looking for a new house & she was actually selling her home. The asking price then was 400+K.

I ended up finding a gem, all brick 3 bed, 2 bath in Springfield for 150K, which sold for about 350K in the mid 90s.

My Aunt got a million for her father's, my grandfather's home in Bethesda Md. in the 2000s. The buyer, a developer tore down that house & built a 2.5+ million house in it's place.

A person, who I worked with, both of us were consultants sent me a picture of the house he bought in the Castro area of California, which was more than 500K in the 2010s. It was probably smaller than what you parents sold, as I would classify it as a bungalow, which is a small step above a shack. 🤣