It's 1971...
You have your Firebird & Led Zeppelin's blaring in the background . . . . or you have your bell bottoms, afro & disco ball!
You pay..
40 cents per gallon for gas..
8 cents for a stamp..
43 cents per pound for Turkey..
$150 per month in rent..
the average new home sale is $25,250..
and your interest rate is 7.48%!
Today's Interest Rates -> Starting around 5%
Even in the 70's you couldn't borrow money as cheap as you can today!!
What are you waiting for..??
Many people are waiting (or searching) for a job. THAT is what has stalled housing and the tight credit lending standards, but seriously Britney, interest rates aren't a problem you are right. If anything they may be rising in the near future from these historic lows.
Britney, now you are waaaaaaaaaaaaaaaay to young to be able to remember any of those things, but unfortunately I not only remember wearing the bell bottom pants, but also waiting in the gas lines for the 40 cents per gallon of gas.
The houses are at the lowest prices that they have been in years, and the interest rates lower then when the house were that price. GREAT TIME TO BUY!!!
Ha Well.. my fiance' does own a 69 Firebird and I do occasionally listen to Led Zeppelin.. classics!! =)
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