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[Y5]Years Of Great Depression

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The group members Benny Andersson, Bjorn Ulvaeus, Anni-Frid Lyngstad and Agnetha Faltskog had there first hit single called "People Need Love" and it reached number 17 in the Swedish singles charts and it was included in their first album "Ring Ring" which was released in 1973.

It wasn't until they won the Eurovision song contest in 1974 that they suddenly shot to fame, across the UK and the whole of Europe. Their winning song called "Waterloo" reached No 1 in the UK Charts. While they were not as popular in the US at this time "Waterloo" reached No 6 in the Billboard Hot 100 charts.

Over the next ten years, ABBA would have Nine No. 1 hits including "Waterloo" and Twenty One Top 20 hits in the UK.

No.1 Hits

"Waterloo" 1974

"Mamma Mia" 1975

"Fernando" 1975

"Dancing Queen" 1976

"Knowing Me, Knowing You" 1977

"The Name of the Game" 1977

"Take a Chance on Me" 1977

"The Winner Takes It All" 1980

"Super Trouper" 1980

In 1982, ABBA made their last album called "The Singles: The First Ten Years." They also released two singles called "The Day Before You Came" and "Under Attack". The singles hit the Top 20 in Europe but there was very little interest in the UK. The album however reached No1 in the UK album charts.

Also in 1982, ABBA performed for the last time to a UK audience via satellite link. They appeared together again in 1986 to make a short video and in 2008 at the premiere of the film "Mamma Mia" in Sweden.

ABBA songs have always been popular since the mid 1970s but recognition of the group and their songs grew again after the opening of "Mamma Mia" the musical in 1999. With the success of the musical, speculation grew about a reunion and a TV documentary recently reported the group were offered One Billion Dollars to perform a reunion tour, which was turned down flat.

For the die-hard fans of ABBA hoping for a reunion, forget it, Bjorn Ulvaeus and Benny Andersson have stated that ABBA will never perform again.

In my opinion, ABBA the group belongs to the seventies and eighties but ABBA songs will continue and be enjoyed by a new generation, especially with the help of the musical and the newly released "Mamma Mia" film.

The market for real estate in the United States seems to have slowed down from the fever pitch of just a year ago. There are a number of reasons for this; rising interest rates and sticker shock among buyers are just two of them. Whatever the reasons, sales of homes seem to be slowing, and that trend will probably continue in the near future.

That being the case, several types of loans that have recently been very popular have suddenly become poor choices of financing for those buying homes. While some types of loans, such as the 30 year, fixed-rate mortgage, are usually safe choices, others, such as the interest-only adjustable rate mortgage (ARM) and the Option ARM have suddenly become not only poor choices, but potentially dangerous ones, as well.

The interest-only ARM was a great choice just a year or two ago among real estate investors. It permitted the buyer to make low monthly payments for the first few years of the loan that compensated the lender only for the interest that accrued on the loan. Payments did not apply even one cent towards reducing the principal. After a period of 3-5 years of interest-only payments, higher payments that applied a portion to the principal would kick in. Buyers, especially investors, weren't too worried about not paying towards the principal, as prices were rising so rapidly that the buyers were building equity in the property just the same. That is no longer the case, and anyone who takes out an interest-only mortgage today might find that, in five years time, he or she owns just as little of the property as they do today.

The Option ARM is even worse in today's climate. This somewhat flexible loan allows the buyer to make four choices each month regarding how much to pay – a "minimum" payment, an interest-only payment, a payment based upon a 30-year repayment schedule and one based upon a 15-year repayment schedule. Those who really cannot afford the house in question most often use this type of loan. The touted "minimum" payment, which seems quite small, is really misleading. That payment not only contributes nothing towards the loan principal, but it doesn't even cover that month's accruing interest on the loan. After making a minimum payment, the outstanding balance on the loan will actually increase. When prices were going up, this type of loan was seen as bullish. With house prices stabilizing, and even beginning to fall in some markets, this type of loan will leave many borrowers owing more than their homes are worth.

As times change, so do the needs of homebuyers. At the moment, it seems that housing prices are either stabilizing or falling. That being the case, a loan designed for people in a market where prices continually go up is probably a bad choice today.

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