Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: lee kramer who wrote (40317)	5/15/1999 5:48:00 PM
From: Tradelite	Read Replies (2) of 120523

All this inflation/interest rate concern makes me wonder how the stock market functioned at all during the years of rampant, unrelenting inflation. In the late 70's and late 80's, I wrote real estate contracts for homebuyers that involved mortgage rates of 9 percent, 9 1/2 percent, 10 percent---and sometimes when I was writing the contract, the loan officer from whom I'd gotten the rate quote called to say a new set of rates had just been placed on his desk, so sorry, the new rate was higher. Rates sometimes went up several times a day. If I told today's buyers (most of whom are too young to know mortgage rates were ever that high)that they must pay 9 percent for a home loan, they'd croak. These young people also happen to have a lot more cash than their predecessors because of stock gains, so some perspective is needed. Maybe I will have to quote higher rates soon, but somehow the other indicators that point to much inflation just haven't shown up yet. I promise not to panic until they do. :)

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