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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Jack of All Trades who wrote (105817)5/31/2001 4:26:20 PM
From: Terry Whitman  Read Replies (2) of 436258
 
I'm not much of an authority on mortgage rates/home sales. John P. may be able to help you there. My take is that steadily rising rates will eventually cause an increase in home sales as people come to the realization that loans are getting more expensive. That trend would eventually end, as people become 'priced out' of the market. But IDKJS about it really. Debt is a HUGE problem, as you probably know if you've read this thread much.

Was talking to a co-worker just today, and he was complaining about how small his paycheck ends up being after all the deductions, then on top of that are automatic home and car loan payments that come out of it.

I told him that I didn't have any loans- paid my house off last winter, and haven't borrowed for a car since my first purchase 15 yrs. ago. He was dumbfounded, since I'm 10 yrs. younger than him. <gg> We both agreed that those poor bankers really didn't need my support. LOL
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