Posted on 09/06/2007 8:28:05 AM PDT by Moonman62
After reading this thread, I’m getting whiplash from the backlash of opposite beliefs from the so-called GOP! Please help us, Lord.
That's due to the large box of popcorn I have on hand. This show will be a double feature. "Attack of the Killer Mortgages" followed by "Debtzilla".
Logic would dictate that if it's still yours after 20 years, then you did NOT buy more house than you could afford. The people who bought more house then could afford 20 years no longer own them because they couldn't afford them.
This article says, in the spring. Isn’t it higher now?
Nope. I had to borrow money from friends to qualify. I made a 10% down payment (that was the minimum you could make back then) and it wiped me out. I relied on pay raises and I paid the money back in a few months.
I think we can measure the bubble by the number of those shows.
The article is about the second quarter. We are already in the last month of the third quarter. These mortgage guys are slow to publish their statistics.
Not quite the same thing. It’s a time honored tradition in my family for the parents to make the down payment on their children’s first house. What determines afford ability is your income to mortgage payment ration. If you can’t afford the payment, you will eventually lose the house, it’s a guarantee.
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