When I started in the Mortgage Industry in 1988, I was earning $6 an hour plus commission! That was the minimum wage back then. I was hired as a Junior Processor and my job was to get paperwork together for the Loan Officers. As a result, I read hundreds of applications and what I saw astounded me: The applicants that were financially sound, were the ones that had purchased real estate in the early 70’s and now we’re sitting on a sizable amount of cash! In 1970, a 3 bedroom detached house in Irvine cost $30,000. That was considered expensive! By 1988, that same house was worth over $200,000!