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Message: <blockquote data-quote="Retired Educator" data-source="post: 352786" data-attributes="member: 3373">Don't know if I should feel sorry for the younger generation or hope they learn from all this. When I was just starting a family and buying a house my home loan was in the 10% range with a short term note at 18%. Bought a quarter of land at 12.5%. Made it through all that but look back and realize it was a struggle. Luckily both wife and I had steady income and didn't live extravagantly, or at least I didn't think we were.Look back and a lot of toys didn't take a good share of a years income to buy. As I remember you could buy a good 16' boat with about a 50-60hp motor for around $5000. Back then those were top quality fishing rigs. Depth finders were let out enough line to touch bottom and then reel in a little.With the help of a couple good bankers we made it through those times. By good bankers I'm referring to good advice on budgets and paying off loans without write-offs. Good advice on how to keep net worth going up to qualify for better interest rates. Don't have to deal with loans much anymore so hope young people can find good advice as well.When you're young I understand the need to borrow money for homes, businesses, etc. The key is to keep those loans manageable and don't forget to invest for the future. These rising rates aren't necessarily good for most but don't think it's the end. Things always have improved and they will again. Make sure you're on the plus side when it does. The DOJ is down but still over 30,000, don't remember how long ago it was less than 10,000. Keep working and be careful.</blockquote>

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