Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Tradelite who wrote (145704)	1/23/2002 6:21:46 PM
From: reaper	Read Replies (3) of 436258

<<The baby boom generation has been around long enough for many people to live in a mortgage-free environment. These people are passing on money to their children, which enables many of the children to live the same way. >> Look, while you may know some (or maybe even a lot of) people who are paying cash, take a couple of minutes to peruse gov't stats on credit or Fannie & Freddie press releases; their balance sheets are growing at 25% annualized; last I checked the population is NOT growing this fast so the ONLY way that can happen is if the average home buyer is taking on MORE debt. Also, I suggest you have a look at the financial statements of the private mortgage insurance companies (MGIC, PMI, Triad, Radian). These companies' book of business is growing like a weed. I am sure you know as a broker that you don't need PMI unless you put less than 20% down. So if everybody is paying friggin' cash, how the *&^^% are the PMI vendors growing so fast? Jeez

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