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re: Older Baton Rouge residents. What lead to the decline of NBR?
Posted on 6/23/16 at 10:30 am to Tigeralum2008
Posted on 6/23/16 at 10:30 am to Tigeralum2008
Low interest rates in the '80's allowed the blue collar plant workers to move out of the area, which was predominantly white until then.
3
Posted on 6/23/16 at 1:09 pm to Tchefuncte Tiger
quote:
Low interest rates in the '80's allowed the blue collar plant workers to move out of the area, which was predominantly white until then.
I was a kid back in the 80's, but I can still remember seeing Ford advertising new vehicle loans for 14% APR -- I don't remember the 80's having low interest rates...
Posted on 6/24/17 at 7:46 pm to Tchefuncte Tiger
quote:
Low interest rates in the '80's allowed the blue collar plant workers to move out of the area, which was predominantly white until then.
I'm assuming you either were not around or didn't borrow any money in the 80's since the mortgage rate for a 30 year loan-what most people at that time used , was 16- 17%.
Think about that hard now. Everyone. All homeowners on this board-where would you be with that instead of a 3-4% home mortgage.
You would be in North Baton Rouge.
Probably renting.
Posted on 6/25/17 at 10:16 am to Tchefuncte Tiger
quote:
Low interest rates in the '80's
What??? The highest interest rates on record are from the 1980's.
The federal funds rate, which was about 11% in 1979, rose to 20% by June 1981. The 1980's average interest rate was 18%.
Compare that to my 3.8% mortgage today.
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