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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: David Jones who wrote (43852)10/30/2005 12:32:22 PM
From: WhitebeardRead Replies (4) of 306849
 
Agreed. I was in my 20's and had just bought my first house in LA in the 70's, and inflation was eating me alive.

My parents had loaned me $7800 for the down and had taken out a second to secure the loan.

The interest was 9 and a quarter on the primary loan and I felt lucky to get it.

Inflation was terrible. I watched food prices go up by two and three cents a week. I esp. remember the price escalating on instant coffee, which I drank in those years.

Then my property taxes took off, almost doubling year after year.

Prop. 13 helped save my house. It's also why I think Jimmy Carter was the worst president of my lifetime.
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