I remember it quite well how the soaring interest rates destroyed the home building business. I was out of a job. My Dad and everyone else in the business lost everything thanks to that prick.
He is the reason my business philosophy has been Beware the Bible Beaters. Those who pretend to be so outwardly Christian and then screw you blind as soon as you turn your back.
“I remember it quite well how the soaring interest rates destroyed the home building business.”
It’s funny that you should mention that, because, in a perverse way, Carter actually abetted the construction of our new (at the time) home. We were able to sell our first home and move into a rental. Then we endured a lawsuit from a neighboring property owner where we had purchased property on which to build. As a consequence, when the lawsuit was ended (in our favor), we were faced with 18.5% construction financing. Our banker said to us, “do yo want to wait for cheaper money and have higher construction costs, or do you want to build now with expensive money and lower construction costs?” We chose the latter. At the end of the day, the actual delta in construction financing costs was about $5,000. But building materials and construction labor were rock bottom because no one was building. It was actually one of the best decisions we have ever made, all “thanks to Jimmah!”
We lost a business with 4 outlets and a distributing company because of the same thing.I had to forgive Jimmah, but it sure did hurt at the time.