Mortgage Land Prosperity

Hey girls! Buying a house may not require wearing a mini skirt. But how much money you can borrow as a home buyer goes hand in hand with current fashion.

I know because Dad told me so.

I was one of those kids who asked too many questions. Good thing it was the mid 60’s and not the 19th century. Surely, my inability to quit asking would have caused trouble during Queen Victoria’s reign.

Little did I know the questions I asked my father as a child would eventually help me grasp the connection between affording a mortgage and skirt lengths.

I was born into a farming family. But by 1956, Dad took advantage of the price of land to sell the farm, move our family to southern California and launch a banking career.

I was the youngest so unlike my siblings, my childhood consisted of standing in shiny bank vaults not Illinois corn fields. In fact, I was more familiar with the price of corn than how to grow it.

By junior high I was already asking my dad, “If there is less money during a recession, where does it all go?”

My father, uncles and granddad were known for their “isms”. I think this was partial to southern Illinois living. One of Dad’s favorites was to compare the economy to skirt hems. I argued the logic. Not surprising. I was a teenager.

Now here is what Dad claimed. When economies flourish, fashion dictates shorter skirts. Good times equal more leg. But when economies take a dive for the worst, the result is a return to more traditional values including longer skirt hems.

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