The financial and credit crisis

Cost of living in 1968

Dow Jones Avg- 943 ( today 12,000-14,000 )

Avg cost of a new home- 14,950.00 ( today 225,500.00 )

Avg income - 7,850.00 ( today 48,200.00 )

Avg monthly rent - 130.00 ( today 1,153.00 )

Gallon of gas - .34 ( today 4.00 )

Avg cost of a new car - 2,822.00 ( today 27,958.00)

Movie ticket- 1.50 ( today 7.00 )

Loaf of bread - .22 ( today 3.12 )

Gallon of milk- 1.21 ( today 4.12 )

HOME INTEREST RATES in 1968 - 6.5 %

TODAY - 5.25%

"The financial and credit crisis has lingered on for over a year now, and today some of the biggest casualties are being seen. After 158 years in existence, Lehman Brothers filed bankruptcy due to overexposure of high-risk loans in the mortgage arena. Merrill Lynch is being acquired by Bank of America, which will save them from the same fate as Lehman Brothers.

What all of this means to your potential buyer, believe it or not, is much better mortgage rates. Mortgage Bonds appear to be a safer place with a better yield than US Treasuries for investor's money right now.

( trying to find a silver lining )