The 70's and 80's were best times for getting loans.

[louisvillekid]

The good ole days.

How my parents owned a home, multiple cars(bought news ones too), had ************, took out home equity loans to add on to home + build garage, all while keeping 4 kids fed(never on welfare), had new school clothes + supplies, etc. etc. with what the interest rates were during that span, is amazing.
Dad worked a union job and mom was on and off PT-FT in retail jobs.

https://www.gobankingrates.com/banking/interest-rates/see-interest-rates-last-100-years/

[louisvillekid]

The good ole days.

How my parents owned a home, multiple cars(bought news ones too), had ************, took out home equity loans to add on to home + build garage, all while keeping 4 kids fed(never on welfare), had new school clothes + supplies, etc. etc. with what the interest rates were during that span, is amazing.
Dad worked a union job and mom was on and off PT-FT in retail jobs.

https://www.gobankingrates.com/banki...ast-100-years/

Huh? the word for CC's gets auto blocked? Wow.

[jackpot269]

There was 5 of us kids, my dad was a mechanic by trade and went to work for the coal mines in 1971, my mom didn't always work, outside the home, probably 6 of my 12 years of school, we had everything we needed and always plenty of wants.

[TheGoldenGoose]

The key words here are “Union Jobs”.
That was back when we had millionaire owners who shared the wealth with Pension plans for dedicated employees. Cadillac Health plans, a July company picnic, A December party.

What you’ve got now are Billionaire owners who share nothing with employee Dads & Mom’s who work two jobs each.

[louisvillekid]

Apparently no one gets the gist of it.

Pension plans invest in the markets too. it's not a large stockpile of cash set aside in a vault for a person's retirement.

The ridiculous average interest rates people paid back then for car loans, mortgages, personal loans, home equity loans, CC cards, etc. etc. is unfathomable since the 90s and into the 2000's, with the almost zero percent, or zero for 6,12,18 months, type of rates we get now, and expect.