housing market

so... a couple good friends just recently bought new homes. hooray for low interest rates! well, as you know, the housing market is always a bit crazy. just for a point of interest i'd like to share another snippet from my father's journal. this one is dated november 27, 1979.

The real estate market here has suffered a real turn for the worse. Nationwide the prime interest rate has risen to over 15% which has really put a damper on real estate transactions. Our friends the Melzers have been trying very hard to sell their home to move to Los Angeles. They have had some difficulty which may be some indication that it may not be so easy for us either. One thing is for sure – we will move. Since it was right that we should come here and have this experience, I am sure a way will be provided, either easily or with difficulty, for us to be able to move on to the next assignment.

what is interesting to me is that my parents bought their house in california knowing they'd only be there for a year. that's a lot of house selling headache. seems like renting would have been a good option - but i don't know the rules and norms of home ownership back in the late 70's. this morning i read in the ny times an article about president carter's speech he delivered in july of 1979. apparently the nation was in a "crisis" and needed some leadership and hope. the article taled about how carter was different from regan and obama by speaking of reality and the need for responsibility as opposed to a bunch of fluffy positive talk and dreams. having just typed my father's experiences of the same time period i don't think my father was much of a news reader - at least his journal reflects none of the concern this article seemed to imply was gripping the nation. his days are filled with fixing things around the house (including a car) and conducting music in sunday school - it was apparently a very rewarding calling for him. he also does a lot of dreaming about missionary work and balancing his work responsibilities with family time. it reminds me of a comment made in my relief society the other day. the woman said that if you are prepared and have heeded the prophet's warnings of the last 10 years then this financial crisis our nation seems to be in won't be having too drastic of an effect on you. i like to think that may parents were heeding the prophet - i know they were - my dad mentions quite a few times things president kimball said. hooray for goodly parents.