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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (84937)3/23/2001 6:58:23 PM
From: Roads End  Read Replies (1) of 436258
 
In the late 70s early 80s the Portland, Or. real estate market tanked and put many upside down with their mortgages. The mortgage rates at the time were in the teens. I had a friend that was able to sell his house but had to pay the balance of the mortgage off at closing. Though rates aren't where they were back then I wouldn't be surprised to see a repeat performance. Many of the young home buyers think only that when you buy a house it goes up in value and find it hard to believe when I tell them it happens and will again.
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