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Worst Real Estate Market |
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I have a friend of mine who is a real estate agent and insists that the current real estate market is the worst in 40 years. I just don't believe it.
I remember the deflation in the early 1970s in Texas for one. Their must be some history on this of the worse years.
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I agree with you. I'm pretty hazy on the exact dates, but I remember -- in the early 80s? -- when mortgage interest rates reached 17 and 18%. That was a pretty bad time to try buying one's first home. I remember when so many savings&loan institutions failed--yes, particulary in Texas-- that the federal government had to take over. You're right. There have been much worse real estate markets, and within the last 25 years. Your friend the agent is probably too young to remember. |
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Edith
Originally published on September 4, 2007 |
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