Thanks to the millions of apps and widgets out there, I have managed to build my iGoogle page to quite the source of useful, and useless, information. Fortunately, some of the little tidbits that my eyes span daily actually make me stop and ponder. So...in the spirit of good fun and entertainment...I thought I would start a new blog segment (never fear; it won't be a daily thing) and enlighten you to some of the wisdom the Real Estate market has to share.
Here we go...
Did you know...
...Homebuilders, mortgage bankers, real estate agents, and homebuyers do not recall the early 1980s fondly. To reduce chronic inflation, the Federal Reserve dramatically raised interest rates causing severe economic recession in the USA. The national unemployment rate peaked at 10.8%, the prime-lending rate hit a staggering 18.45%, and the mortgage interest rates averaged 16%.
Wow.
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