- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: William shatner vs millenial regarding housing costs
Posted on 11/10/19 at 5:27 pm to Sneaky__Sally
Posted on 11/10/19 at 5:27 pm to Sneaky__Sally
quote:
Why not wait a year, save and put down more money and take a smaller or shorter loan?
I built my own, bit by bit. Worked full time, married , went to college at night and built by own place by 21.. Took out loans for less than 10k over that time.
Interest rates over 10% were a staple for well over a decade.
0
Posted on 11/10/19 at 7:13 pm to RogerTheShrubber
CD rates were much higher as well, 10-12% as well. Late GGs and Early Boomers benefited greatly from that.
The 70s and 80s were great for savers, not for buyers. The last 25-30s has flipped. I don’t know where they are getting that new build home prices are at a median of $315k, that seems remarkably low. Must not include land costs I reckon.
All seems off to me, but I’m not going to get in the middle of yet another Boomer-Millennial dick measuring contest.
The 70s and 80s were great for savers, not for buyers. The last 25-30s has flipped. I don’t know where they are getting that new build home prices are at a median of $315k, that seems remarkably low. Must not include land costs I reckon.
All seems off to me, but I’m not going to get in the middle of yet another Boomer-Millennial dick measuring contest.
Posted on 11/10/19 at 7:18 pm to Sneaky__Sally
quote:
What percent did you put down and how long was your mortgage for? Just curious if changes in interest rates have impacted typical mortgage financing arrangements to a notable degree
Based on what I recall from 37 years ago - 1st house sales price was $55k, and I put down 5%. Monthly note was around $640 for a 30 year mortgage, or about 40% of my net salary at the time (OT poor).
This post was edited on 11/10/19 at 9:13 pm
Posted on 11/10/19 at 7:21 pm to Sneaky__Sally
My folks bought a house in mid 1980’s and got a 9.9% rate. We went to Ruth’s Chris to celebrate. They never thought they’d get a mortgage under 10%
Posted on 11/10/19 at 7:22 pm to pioneerbasketball
Always about feelings, millenials
Posted on 11/10/19 at 7:26 pm to Sneaky__Sally
quote:
Did people actually take out 30 year loans at 12% interest?
Yes.
It’s also why you have people who believe in sitting on piles of cash and they are doing the fiscally responsible thing buying a car outright with cash.
Borrowing used to be very very expensive, and not something to be done lightly.
Posted on 11/10/19 at 8:10 pm to ThruThickandThin
quote:
Always about feelings, millenials
be nice. Your kids choose the nursing home
Posted on 11/10/19 at 8:18 pm to BHS78
quote:
Go back and check the interest rates when the great Jimmy Carter was President. Some people were paying 18%.
And you could get 12% on deposits, I would fricking kill to go back to those rates, punishing borrowers and rewarding savers is not a bad thing.
We will have a price to pay eventually for forcing all the cash into the stock market.
Posted on 11/10/19 at 8:25 pm to HailHailtoMichigan!
As a boomer I apologize for giving society the Libertarian Party though I've never had anything to do with hippies or communes.
Posted on 11/10/19 at 8:27 pm to CitizenK
quote:
I apologize for giving society the Libertarian Party
Libertarians have been around long before the boomers.
Posted on 11/11/19 at 6:50 am to RogerTheShrubber
How wrong you are, the party didn't form until after the 1964 election.
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News