Sunday, 28 August 2011

Lest we forget

Digging through 'stuff' I came across a newspaper cutting of the 18 month old medium S Clark sitting under a Christmas Tree in December 1987.
Lovely photo!
But alongside the lovely photo is an article:
Interest Fall Tipped Home loans may hit 13%
"Home loan interest rates could fall (sic) to 13 per cent by March if economic conditions are favorable (sic) a loans expert has forecast."
We forget that the present rates (whilst not insignificant) at between 5%-9% are certainly not at the frightening rates of 25 years ago!.
Of course there is another side of the coin. My last position was funded by the sale of a building which was then invested at up to interest rates fell to the 13% lows...and lower; there was not enough revenue to continue the funding.
As we hear the whining about economic decline we should look back to 1987!!

No comments: