My parents sold real estate in Montana (yes that’s where I was born and raised!) in the 1980’s and early 90’s until my Dad passed away suddenly. They worked side-by-side every day, and when he died my Mom could just not handle going to the office without him and stopped selling.
I look back at the fact that when they were selling, interest rates were 12% on a mortgage! I mean really, can you even put your mind around that concept and what your mortgage payment would be? At today’s real estate prices I certainly can’t!! Well, I know I would not be selling real estate because who could buy? It would be a pretty small pool that is for sure.
Here’s a historic look at mortgages, interest rates and monthly payments on a $200,000 mortgage. Whew!