Graham Stephan

I did not realize that.

From 1978, we were at 9.6.

We went to 16.6 by 1982.

That's 700 basis points.

The first thing to remember is everybody said that every 1% increase in interest rate, prices were supposed to fall 10%.

And that frightened me, right?

I'm a guy with probably $20 million in real estate at the time.

And if you're telling me my real estate is going to fall 20%, 30%, 40%, I don't want to be there.

I saw the GFC.

I didn't want that to happen again.

So, you know, I had to go figure out what actually happened the last time we did that.

Yeah.

So what I found out, this is exactly why I did it.

And this is why I give it away.

I don't charge for it or anything like that because I'm just trying to help people.

That's all I'm trying to do.

So the first thing I found out was all of these experts, and I'll use quotes because they were wrong.

prices did not fall 70% from 1978 to 82.

Interest rates went up 7% and they were supposed to fall.

Now you could argue, hey, okay, they didn't fall 70%.