7 Sep 2023 4:44 pm
Like ****, ZeeZ09 » 07 Sep 2023, 1:10 pm » wrote: ↑ Bruce...
Tell the truth...
How ya feeling about 7% interest rates?
What do you tell a young couple that could afford a house 4 years ago under Trump and now they're not qualified...?
But the year after the Volker Recession truly ended Reagan won 49 states.
—-Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office.He was 92.
Volcker took charge of the Fed in August 1979, when the U.S. economy was in the grip of runaway inflation. Consumer prices skyrocketed 13% in 1979 and then by the same pace again in 1980.——
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1983.[1] It is widely considered to have been the most severe recession since World War II.[2][3]
—-
I loved Reagan and felt even **** in September 1983.
This time let’s hope 5.5% is the cap of the Fed Funds rate.
Summary: Historical mortgage rate trendsYear30-year fixed-rate average198313.24%198216.04%198116.64%198013.74%48 more rows
•
——-
One factor keeps interest rates lower is high gas prices. It acts as a tax.
Joe’s done more to lower gas prices than any President in my lifetime.