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Originally Posted by jyl
Note though that today no cellphone and no internet means little or no ability to find jobs, use services, get information, communicate with anyone, do schoolwork, etc. Smartphones and home internet are not the unnecessary luxuries that they were even a decade ago - they are almost as vital as electric and water. I would expect even low-income households to do everything they can to keep those things.
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They can go to a public library and use a computer for free, and free internet. That might be difficult if you live in a very rural area, but city residents can find a library.
Quote:
Originally Posted by Crowbob
You must be allot younger than you look or really got screwed interest-wise.
When rates were 12.5% (Carter) as far as I know there were no such things as flat screens, internets or cell phones. Cable TV as we know it today, didn't become widespread until the early 80's.
Back when I was poor the second time the Burger King near campus had Whoppers for $.35 apiece on Wednesdays. For a little over a buck you get stuffed and set yourself on a good pace for heart disease, too!
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At the time, 1982, the banks were charging 18% for a 30 year mortgage. I honestly got a great rate because I bought a house that the owner financed. He made 12.5% on his money. I looked at the house and said I would buy it on Nov. 1st, 1982, we shook hands. 10 days later I woke up in my house, broke as hell, but no more renting.
Getting the utilities, set up and physically moved used all my cash and some credit card debt. It is a long story on why I really had to move then and irrelevant. I had a choice rent again or buy a house. I think I made the right choice, even if I did have to live of off of rice and beans.