In the 1960's interest rates were 17%+. Housing price accretion has been hand and hand with ultra low interest rates and the addition of the second and even third mortgage.
I recall interest rates in the mid 80s of 13-17% but wasn't of age in the 60s to be able to recall. According to the FreddiMac site, they were between 7.3 and 7.7 in 1971 rising steadily through the 70s.
Jeffrey, when I popped in to my fave Indian restaurant in London, asked my buddy the chief waiter how much he would consider spending on his dream audio system, and told him in response that I spent more than that amount on an audiophile fuse...and then bought 17 more of the same...and that my entire system spend has been 10,000X his, he gave me THAT look.
But he had no qualms imagining spending the same sum on an Aston and a run around for down the shops.
Jeffrey, when I popped in to my fave Indian restaurant in London, asked my buddy the chief waiter how much he would consider spending on his dream audio system, and told him in response that I spent more than that amount on an audiophile fuse...and then bought 17 more of the same...and that my entire system spend has been 10,000X his, he gave me THAT look.
But he had no qualms imagining spending the same sum on an Aston and a run around for down the shops.
while i agree.........what goes unsaid is; it's helpful to only have to spend on one woman, as opposed to multiple. system's tend to get downsized when it's multiple.
I once bought a diamond ring and a Bulgari watch in New York, and had
it sent for christmas with a special Brinks service from the diamond district to Amsterdam. Back when i was still romantically inclined
These days the only diamond i will buy is from Van Den Hul, not De Beers.
Ron. You need to get out more. How many millennials are spending lots of $$ on hifi.
400K turntables I am afraid is obscene. How many of these hi end jewellery ( hifi) companies will be around in 5 or 10 years?
once us pensioners get too old to spend $$ on hifi, it will be over as we see it today. Same for vinyl.
Streaming is the present and future of hifi and video. that said, I will still enjoy my vinyl albums, just refuse to pay the obscene prices they are charging for $20 Blue Note albums.
Didn't David Lee Roth say: "Money can't buy you happiness but it'll buy a big-ass yacht that'll pull up right along side it." Or something like that? I don't agree but It does make me sarcastically chuckle.