This jerk gave me 13.5% mortgage interest in 1980 when I had to build my house myself to be able to afford it. One of my bucket list items is to make it to his presidential library so I can write in the guest book what a jerk he is and then leave. He cost me thousands extra in mortgage interest in the 1980’s that I would like to have used for family vacations, etc. What a moron.
He gave me an 11.5% rate on my first CD. Unfortunately, that was also the local unemployment rate. He is living proof that “good” and “smart” aren’t synonymous with capable. Debating his merits seems pointless given his performance. I’ll take performance any day.
My old man was a builder - the Carter years were terrible. In two years he built two homes! And I think the interest on the money he had borrowed for his big development was 18% or something. He hung on though, and did very well when the market came back and he finished the development.
He built his first home just out of college and before WWII. Then he got called up. He told me that after the war the profits he made on one house (even young he built nice homes) he could buy a Cadillac out-right. The old photo album showed lots of cool Cadillacs and Buicks.
“Now [late ‘70’s) I make enough profit to put a down-payment on a Chevy.”
It was nice to see having Caddies again when he retired. He would buy used ones down in Florida. Keep two down there and drive a third back north and use it for awhile. Then sell it up north, fly down, buy another one and repeat.