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Politics : Clinton's Scandals: Is this corruption the worst ever? -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (608)	8/5/1998 4:57:00 PM
From: Rick Slemmer	Respond to of 13994

Les: The post-WWII baby boom created a spike in demand for housing in the 70's to early 80's. In order to compete for housing, households were forced to increase their income. The Carter/OPEC years of hyperinflation also fueled the real estate and housing market as "safe haven" investments. I can recall Roger Mudd telling us every month what the inflation rates were and the projected cost of a loaf of bread in ten years at that rate. Inflation was killing business expansion loans. I was one who got an initial mortgage at 12%, and I knew people who were opening Swiss accounts and buying Krugerrands at $500 and $800. It was a scary time. RS