We've come a long way, baby...or have we?

Some tidbits from the December, 2009 Texas REALTOR®

I really enjoy the real IQ section of the magazine each month, and this month was no exception.  I had forgotten some of this, and didn't know some of the other facts.  Check out these questions to see how much you know:

1.  What was the national average interest rate for a 30-year fixed-rate in 1981?

    a.  12.88%                b.  16.63%                c.  19.51%                d.  9.09%

2.  True or False?  Texas markets in January 2008 had almost double the months of inventory as in January 1998.

3.  In 1994, there was one active Texas REALTOR® for every 445 Texans. 

What is that ratio today?   

a.  1 for every 137 Texans              b.  1 for every 297 Texans                  c.  1 for every 441 Texans               d.  1 for every 703 Texans

4.  Motorola introduced the first portable cell phone for consumers in 1983.  How much did it cost in 2009 dollars?

            a.  $500                     b.  $1,500                 c.  $5,000                 d.  $8,500

5.  Kodak introduced one of the first widely available digital cameras in 1991 that cost $20,350 in 2009 dollars.  How many megapixels did that buy you?

a.  1.3                        b.  2.1                        c.  3

Who Knows The Answers:

1.  b/16.63%           Isn't it amazing that people were buying any homes?  I bought my first home in 1980 at an interest rate of 13.5% and never thought a thing about it, because that was just the way it was.  At today's rates and the special incentives, homes should be flying off the shelves!

2.  False.  January 1998:  5.8 months of inventory; January 2008:  5.9

3.  b  One Texas REALTOR® for every 297 Texans.  Take into account the people under 18 and the ones who could not buy for mental, physical or financial reasons, and that could make for some pretty slim pickins.  Since 1994, the number of active Texas REALTORS® has doubled.

4.  d/$8,500 and it had only 30 minutes of talk time!

5.  a/1.3 megapixels 

 It is kind of fun to think back on some of those times, and realize how far things have come.  One more fact that was mentioned is that some MLSs in Texas still print MLS books!  Wonder how far back in the hills you would have to go to find that?