I was digging through a closet at my grandparents house and came across this magazine from 1976. Low and behold on the very last page was an interesting editorial about real estate values and the mortgage industry.

The old saying: “The more things change, the more they stay the same,” immediately came to mind.  Concern about families struggling to afford the “American Dream” has been a constant refrain over the last 30 years, and beyond.

At the same time, it occurs to me that there have been a lot of changes in what mortgage programs have become available for all buyers, and now we know the pendulum CAN (and did) swing too far to the other side. I think it’s interesting to gain some perspective about our current situation by hearing what people where saying during past times.

I came away from reading this with the hope that the current economy and real estate price adjustment period has taught us some lessons.  Maybe we will allow the pendulum to settle more in the middle.  With a steady job, decent credit and a small down payment many are able to buy a first home, and those who wait to build-up enough equity can then “move-up” into their next home.

No matter what you take away from the article, I hope you enjoy a little blast from the (real estate) past!

Domenica
Windermere Real Estate