Josiah Greasy Barefoot wrote: » Both decades were, to my experience, marked by high unemployment and high interest rates. I wouldn't go back to them for any reason.
topper75 wrote: » I can't pretty up unemployment for anyone. But the high rates meant little or no speculation in the housing side of things. If you did get that job, then a house would follow. The mortgage deposit % wasn't as rigourous something like 10%. Yes the monthly repayments would be rough. But it was at least ATTAINABLE. Big difference to today. It is pointless looking back at a historical period saying Oh they had no X like we have today. We didn't know about it back then, and what you don't know ... An Irish CB ran the rate for the punt. It was a currency/rate for OUR economy, not for a depressed German banking sector or a roaring Parisian property market. It was ours. By us, for us. And our politicians gave that away without ever asking us.
topper75 wrote: » An Irish CB ran the rate for the punt. It was a currency/rate for OUR economy, not for a depressed German banking sector or a roaring Parisian property market. It was ours. By us, for us. And our politicians gave that away without ever asking us.
BeerWolf wrote: » Uncomfortable, itchy jumpers. I don't miss that.
Kermit.de.frog wrote: » Grey, delapidated, hopeless.
Josiah Greasy Barefoot wrote: » Mortgage deposit was 20% and repayments meant a huge struggle with more that a full salary in payments. In the 80s Mortgages were attainable mostly only if both spouses were working. We had two good jobs in which we were well established through this period and really struggled to pay a mortgage on a very modest home, doing without holidays, social life, and any purchases over and above the necessities - no phone, video players, a 10 year old car, etc. Only from the 90s on did things become more obtainable.
topper75 wrote: » ... An Irish CB ran the rate for the punt. It was a currency/rate for OUR economy, not for a depressed German banking sector or a roaring Parisian property market. It was ours. By us, for us. And our politicians gave that away without ever asking us.
One of the most notable features of the currency crisis was the unprecedented levels to which Irish interest rates were increased in defence of the currency. Initially, the Central Bank refrained from increasing its Short Term Facility (STF) rate but, as it became clear that pressure on money-market rates would persist, the STF rate was raised by three percentage points to 13.75 per cent on 28 September 1992. The Bank later suspended the STF and provided overnight support at rates of up to 100 per cent — see Chart 2. Official rate increases were reflected in short-term money-market interest rates and were passed on to business borrowers who had DIBOR-related contracts.
UrbanFret wrote: » The 80s music has stood the test of time. The pub scene was fantastic, now spoiled by every supermarket selling dirt cheap alcohol.
Sgt Hartman wrote: » Also, brown clothing, y fronts and bathing only once a week seemed to be the rage back then.