[GH85Carrera]

Jimmy Carter pushed up the interest rates for home loans to insane levels. I know people that bought a house and were happy to get a 15% loan for 30 years. My wife worked at a saving and loan and they were charging 18% for home mortgages at the time.

I was really shrewd. I managed to get a real bargain loan rate of just 12.5% for 30 years. Shortly after I ran an amortization table on my then new Commodore Vic 20. After one month the principle paid was like a $1.40 So I figured I owned the plastic face plate for a light switch. It would take a year before I could own the light switch.

Then I checked out what it would cost would be for a 20 year loan, and it was just a few dollars more per month and 10 years less time so I upped my payment.

Now, go check your home loan and see what your payment would be at 12.5%. Thank you Jimmy Carter.

I sure wish I could find a 12.5% return on any investment now.