***but most people don’t remember the early 80s.***
I remember it very well. Bought a house in 1977 at 8.5% interest. by 1980, the rates had gone up to 12 % and lenders were begging everyone to renew their loans at “The low rate of 12-14% and they would give you 125% the value of your property to do so!”
Lots of people did, and then came the crash.
Same thing happened again in the first years of 2000.
>>>I remember it very well. Bought a house in 1977 at 8.5% interest. by 1980, .........”
Yes, the fruits of Jimmy Carter. Although Biden is making Carter look Reaganesque....thanks.