Posted on 03/06/2008 9:36:15 AM PST by Toddsterpatriot
“That’s great Mister Smart Guy.
OK, maybe you know a lot about real-estate, but you sure as hell don’t know squat about getting copy syndicated with the AP.”
I suppose I could skew everything, too. I do happen to work in the real estate industry, and I know exactly what’s been going on the last few years.
I guess I should just say somebody’s gotta pay the piper. The media can’t have it both ways.
Exactly right. The old time news industry is where there's been big time mass lay-off's, and you'll never see any tears from me for those lost jobs..
People like my parents bump the average. We built their home ourselves. They bought the two acres for $5,000 back in 1967 and we built the house in sections as the money came in. It is a nice 2,500 sq. ft. rambler.
They just sold off one of the acres for $525,000.
It’s people like an old friend of mine that drops the average: They bought their home in the mid-1970’s for $17,000. They currently owe more than it’s worth thanks to refinancing-as-ATM - $280,000.
This is really stupid.
Watch the government will bail them out too for their STUPID decisions.
>>and yet, Dems still pledge to raise taxes on America for their healthcare initiative<<
Talk of a health care initiative only works when there is a chicken in every pot. When things go bad, people worry about other stuff. ‘Course, if you elect someone that says big bad business will pay for it all...
Um... How well off did you have to be to get a reverse mortgage, Option Arm, 120% NINJA liar loan? Are these well off Americans being foreclosed just because they don't feel like paying their mortgages? Maybe it is all going to vacations, furs and Grey Poupon?
I am not referring to people who have reverse mortgages. The number of reverse mortgages out there is very small in comparison to all the other outstanding home loans. Very small.
Is this just a regular annual revision similar to what is described here? Is so, I'll just continue to revise graphs when they get too out of date and I have the time. Regarding household net worth, I revised that graph just a couple of quarters ago. Anyhow, thanks for the heads up.
I don’t know for today but in 2002 it was over 65% (a little more in the east) of peoples equity. That number referres only to homes that are used by the owner.
There’s a strong tendency for building expensive homes in swabia - a quite rich area of germany - there the numbers for home equity that are NOT in self usage are higher then in other areas. In the relatively poor east homes and land is so cheap - it’s the first thing people will buy - especially because they know times when private property was extremely restricted.
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