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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (257850)	8/8/2014 6:13:06 PM
From: research1234	Read Replies (2) \| Respond to of 541458

I bought my first house in the early 1980's, and I found high inflation/interest rates to be no big deal. House carrying costs including interest were a reasonable proportion of income, and incomes went up fairly rapidly year over year so that most workers kept pace or did better than inflation. The big losers were folks on fixed income. Sometime in the next ten or twenty years, I expect we will have another bout of high inflation as a way to monetize US debt. Hence I do not plan to ever be into bonds in any significant way.

To: Steve Lokness who wrote (257850)	8/8/2014 6:35:35 PM
From: Wharf Rat	Respond to of 541458

I bought my house in '74 at 9.5% interest, and my father thought I was nuts. I thought my income of $680/mo was gonna go up by $100 as soon as I passed a professional credentialing exam (cuz I was the union steward for my dept). IIRC, my payments were close to $200. Housing inflation was already happening here, resulting in prop 13 in '78.., and the house went from $27K to around $178? K when I sold in '86 to assessed at about $760K today, those suckers.... nice hippy cabin, 800 sq feet, on 6000 sq feet of land. Anyway, cuz of professional advancement, I inflated a whole lot more than the economy did, and i was able to buy a bunch of Zeros for my IRA that cost me $86 in ?80 and gave me $1K 30 years later, so inflation was good to me.

To: Steve Lokness who wrote (257850)	8/8/2014 10:35:28 PM
From: JohnM	Respond to of 541458

BTW Jeff, it is no secret that that is why he lost to Reagan. More complicated. As I recall the polling was quite close until very near the end. The general consensus was the the Iranian hostage crisis was the final blow. Reagan was not a strong candidate in 80.