That’s kind of funny. Cleaning out Mom’s house, I found her original mortgage loan note with a local bank. It was a fixed rate note @ 3.%. Imagine a bank today agreeing to hold a loan on their books at that rate for 360 months. In 1950, banks actually kept mortgage loans and didn’t sell or assign them to another company. But to put that in perspective, it still took them 18 years to pay it off. Folks didn’t make what they make today, but they managed to pay it off early. Bet you don’t see that happen often now. We’re kind of out of balance today, I guess.
My daughter bought a home recently for 440.000. It’s not something that I would have paid a 100000 for. The realtor made a healthy commission and skipped down the road, my kids are left renovating an older home in a depressed neighborhood, and no home warranty!
SHAKEDOWNCITY about 1 month ago
That is quite "war"ranted.
olds_cool63 about 1 month ago
Levittown.
Kornfield Kounty about 1 month ago
Remember the future home construction of Lyon Estates in Hill Valley, CA. (Back to the Future)
PraiseofFolly about 1 month ago
“Little boxes on the hillside
Little boxes made of ticky-tacky
Little boxes
Little boxes
Little boxes all the same …”
.
— Pete Seeger
HarryLime Premium Member about 1 month ago
Back in ‘45 my father’s pay (withe 3 kids and a wife at home, was $45 a week … no overtime.
rockyridge1977 about 1 month ago
Mite want to check out the “mini-homes”!!!!
hubbard3188 about 1 month ago
That’s kind of funny. Cleaning out Mom’s house, I found her original mortgage loan note with a local bank. It was a fixed rate note @ 3.%. Imagine a bank today agreeing to hold a loan on their books at that rate for 360 months. In 1950, banks actually kept mortgage loans and didn’t sell or assign them to another company. But to put that in perspective, it still took them 18 years to pay it off. Folks didn’t make what they make today, but they managed to pay it off early. Bet you don’t see that happen often now. We’re kind of out of balance today, I guess.
sincavage05 about 1 month ago
My daughter bought a home recently for 440.000. It’s not something that I would have paid a 100000 for. The realtor made a healthy commission and skipped down the road, my kids are left renovating an older home in a depressed neighborhood, and no home warranty!