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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (16820)	2/6/2004 11:02:29 AM
From: gpowell	Read Replies (4) \| Respond to of 306849

Unemployment spiked at 10% in 1982, no lower than 6% during the period. Percentage of employed dropped to 56% in 1975. Real wages declined throughout the period. Fed funds rate at approximately 19% from 1980 through 1981. Recessions in 1974-5, and back to back in 1980 and 1982. GDP contraction during 1982 was most severe since the depression.

To: Elroy Jetson who wrote (16820)	2/6/2004 5:42:31 PM
From: David Jones	Respond to of 306849

>What was so particularly difficult?< Jobs. I too did well those years but in my case it was part luck. Many with my same skills were not employed.

To: Elroy Jetson who wrote (16820)	2/9/2004 9:15:08 AM
From: Amy J	Read Replies (1) \| Respond to of 306849

Elroy, As a small child, I recall gas lines that got scary. You lived in Texas (oil), obviously not the midwest during the auto downturn that played havoc with the community. My Dad wasn't impacted, but I saw many people suddenly get cancer and other weird illnesses and die. They didn't get just the flu, like this hightech downturn gave, they got cancer and died. As a child, I'd tag along with my Dad when he was grocery shopping and remember inflation - he would point out the new stickers on the products and show how the store couldn't even keep up with the daily and weekly price changes. A person could always find the cheaper priced product in the back, and people would rush to the store before the milk prices shut up again. Nasty stuff. Regards, Amy J