Re: OT: "I'm Worried About Graham". 🙏

D wrote:

  On Fri, 15 Nov 2024, Leonard Blaisdell wrote:
 

On 2024-11-12, Coogan's Bluff <ft.tryon@park.invalid> wrote:

Leonard Blaisdell wrote:

>

Another joke, the Federal Reserve is about to reduce interest rates.
They should double them, at least, for now.

>

Whoa...double them?

>

That'd melt the entire housing market to zero.

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Subsidiary damage says no,plus the Fed will cut again in December.

>
>
I bought my home during the last slobbering fool's [Carter] administration
at over nine percent interest. During later, saner times, I refinanced.
At the time, homes were considerably cheaper, but the value of money was
considerably more.
The more things change, the more they remain the same. [1]
By the way, my opinion of Jimmy Carter is that he's a good man but had
no business as a president with the first traveling clown administration
of my lifetime. Who'd a thunk there would be a second, and worse?
See [1].
>

 You're a tough cookie Leo! The highest interest I ever experienced was 6.5%. The highest my parents ever experiences I think was 15%. Their home was purchased for 20k USD and is valued at 1 100 000 USD today. That's inflation for you!

Here's a sad fact on catchup - that $1.1 million today would just barely buy a mini mansion on a couple of acres in Montana now.
Back in the day you could have owned a street corner in Helena for that price!