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/biz/ - Business & Finance

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12486712 No.12486712 [Reply] [Original]

Are there any actual boomers here who lived with any knid of knowledge of money and finance during the 1970s/1980s/1990s when interest rates in the US peaked? I'm curious about what life was like during those times when it came to money, peoples' optimism, housing, etc. both in the rising and falling phases. What do you see changing in today's world if rates were to ever follow the same pattern?

>> No.12486933

>>12486712
I'm interested too. It's easy to trivialize the boomer generation given their standard of living but they still had to live life and go through struggles.

>> No.12486962

>>12486712
I'd love to hear about this, it seems like everybody claims we have it so easy these days. What about then? Seems like everybody had a yacht in Miami during the 80's.

I'm really hoping the 2020's are the second coming of the 80's.

>> No.12486995

>>12486962
I mean if you look at it from a 3rd party perspective it already looks the roaring 20s that anon
10 fucking year bullmarket in stocks, all these worthless youtubers and ugly as sound cloud rappers making millions, all this hypebeast bullshit culture where you spend as much fucking money as possible on a fucking t-shirt --think about how this type of culture will look say, 30 years from now.
It's like we were all stupidly rich.

>> No.12488163

>>12486712
Id like to hear if the decent savings interest rates played into portfolio strategy. Ive always been under the impression banks in the 80s gave people a reason to have a savings account. Not to mention near 18% rates on CDs.

>> No.12488174
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12488174

>> No.12488182

My parents had a mortgage in the 80s that was 15% and they did buckets of cocaine. That's all I know.

>> No.12488886

>>12486712
Was awful. I had to work a whole year to be able to buy my house outright, working min wage. Meant I had to live with my parents until I was 20. Because of all this, I couldn't retire until I was 35, and my pension was only 2x final salary scheme.
Much easier for you kids now.

>> No.12488987

>>12486712
49yo here but UK - we had a similar thing happen. Of course I was underageb& at the time

First there was alot of upset over it, every single rise or fall would get coverage about how much more of less the average houseowner would have to put aside or be better off every month. Alot of media interest in people who could no longer keep up payments on the way up. On the way down owners got rich from paying less of course, but fuck those who didn’t make it, and fuck those who didn’t own: the UK had a higher percentage of those.

I think it’ll be a shitstorm if it happens again. Renters will be alright, and outright owners will be alright, but many mortgage holders are in for a huge, huge shock- monthly expenses will go up in huge leaps even at small interest rate rises. Back then salaries kinda kept up. But right now salaries haven’t moved while house prices (and so monthly payments) have doubled, and tripled.

I can imagine landlords fire selling excess properties just to raise cash. I can imagine pink wojaks as single home owners have to firesell to move somewhere much, much smaller and cheaper. I can imagine a huge amount of public pressure to Do Something and that might end up being inflation.