tag:blogger.com,1999:blog-15226520.post114070234835211718..comments2023-07-15T07:26:21.285-05:00Comments on Desert Odyssey II: Child of the EightiesChrishttp://www.blogger.com/profile/11144889983564252947noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-15226520.post-1141138668080292502006-02-28T08:57:00.000-06:002006-02-28T08:57:00.000-06:00You know, something I was thinking about...I worke...You know, something I was thinking about...I worked for HUD during college as an intern. Well, it started as a summer internship but I ended up working for them for two years, part-time, because I was a hard-worker and they liked me.<BR/><BR/>Anyway, one of the things that was happening around the U.S. during that era that you probably don't remember was the after-effects of Jimmy Carter's administration. <BR/><BR/>Alot of people had HUD-insured adjustable rate mortgages back in those days. And during the days of Carter, interest rates SKYROCKETED.<BR/><BR/>I mean to 12-17%. And these families, many of whom were house poor in an economy where homes weren't sellable, had one minor catastrophe which then set into motion a vicious cycle which ultimately culminated in them losing their house. The debt was repaid by HUD, which then foreclosed on the house, auctioned it off (often to local investors for significantly below market value), and the people who snatched up those cheap HUD foreclosures made out like bandits.<BR/><BR/>Many are still big-time landlords.<BR/><BR/>Carter caused that. So people can say what they want about Reagan, but Reagan got us out of that hole, the high interest spiral that Carter's inaction landed us in.<BR/><BR/>yeah, there was an increase in the deficit under Reagan, but on the plus side, his tax cut policies dropped interest rates and defibrilated the dying economy.Troublehttps://www.blogger.com/profile/16553273498093394669noreply@blogger.comtag:blogger.com,1999:blog-15226520.post-1140809309066784042006-02-24T13:28:00.000-06:002006-02-24T13:28:00.000-06:00i love me some air guitar. :)I graduated in '84, ...i love me some air guitar. :)<BR/><BR/>I graduated in '84, you youngsters. (sigh)<BR/><BR/>BUT...I was in college during hair bands, before the govt. really cracked down on pot, and before AIDS. So neener.Troublehttps://www.blogger.com/profile/16553273498093394669noreply@blogger.comtag:blogger.com,1999:blog-15226520.post-1140738453795989392006-02-23T17:47:00.000-06:002006-02-23T17:47:00.000-06:00You can sit by me, Lucky. I graduated in '89. :)...You can sit by me, Lucky. I graduated in '89. :)Richmondhttps://www.blogger.com/profile/07069850070815558984noreply@blogger.comtag:blogger.com,1999:blog-15226520.post-1140722775239589962006-02-23T13:26:00.000-06:002006-02-23T13:26:00.000-06:00That brings up some good memories, though I was mo...That brings up some good memories, though I was more a child of the 90s (I was 7 in 1990). I do still remember stuff from the 80s with fondness...<BR/><BR/>:o)Anonymousnoreply@blogger.com