I bought a trailer to live in while I built my house, that was the start of the Carter's administration. I paid off for it and went to borrow money to build my house. Everybody talks about the high inflation during this administration but that wasn't the problem that I had. The bank wanted 10 or 11 % interest on a fixed loan and would only go ten years and that would have made the payment too high. They offered me a variable interest loan for a couple percent less than the fixed rate and would go 15 years, but I knew what they would do as soon as I signed the loan they would have raised the interest through the roof and I thought that kind of loan would have been stupid I already owned my land]. I did what everybody says not to do I turned myself in as single with no dependants to make sure that there was a savings at the end of the year to build a house. The first year I laid the blocks for the basement[no cement floors at that time], and put it under roof [no windows]. The nest year I put in the windows insulated it and covered the inside walls, and ceiling. The next year I put down floor covering, bought enough furniture to move in and moved in completely paid for. Other than the trailer payment I never have had a mortage payment. When I sold my trailer I got $500 more than what I paid for it [I bought the trailer used]. The boy that bought the trailer was glad to get it for that price and he did the same thing that I did. It took me three years to build and pay for my house and think of how much money I saved on interest doing it that way. The next president signed a trade deal that cost me my job , he said if anyone lost their job because of a trade deal that he signed he would allow us a few extra weeks unemployment benefites [big deal the jerk gave my job away and to appease me gave me a few extra weeks of unemployment]. I got another job and never had to use the unemployment benefit but that is not the point , he was supposed to be the president of all of the people and he gave my job away. Many of the people that lost their jobs in my area also lost their homes, that would have happened to me also if it hadn't been for the high interest rates that I wouldn't give inorder to finanace my home. The high inflation rate under Carter was caused by the high interest rates, and the lifting of the wage price freeze at the beginning of carters administration.
