Oh it was wonderful. My first mortgage loan somewhere around 1978 was 14%. Refi’d at just under 12% a couple years later and I was ecstatic. Just checked Zillow and that condo is worth somewhere around $190K now. (there are somewhere around 75 identical condos, so the value is probably pretty close to accurate.) I paid just under $70K. If we see those kinds of rates again, it won’t drop down to the price I paid, but based on current rents, it probably could drop down to $100K. The good old days. When Realtors actually earned their 6% 😛
