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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: John Vosilla who wrote (69653)	9/11/2006 5:59:57 PM
From: Jim P.	Read Replies (3) of 110194

John, The real estate run in the late 1970's was before money market accounts. It allowed a huge transfer of wealth from savers to debtors account deposits were getting an interest rate of 5 1/4 and you could buy a house and borrow in the 6's (if I remember correctly) and at the same time wages were increasing at a rate close to inflation. It made sense to borrow as much as possible to buy real assets (real-estate) and time would make you rich. Savers of cash lost the wealth, borrowers made out great. This is not the same setup today as far as real estate. Jim

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