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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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October 19, 2006

The Real Estate Adviser: You could grow old waiting for rates to fall

By TOM KELLY
Special to the Journal

I vividly remember crossing my fingers and wishing for a home-loan rate of less than 12 percent.

In the early 1980s, double-digit interest rates had bobbed up and down like a kid's head in an autumn apple barrel. We had one child in the house, another one on the way and I knew exactly how much cash the bank would lend us if rates remained steady.


 
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