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Non-Tech : The Enron Scandal - Unmoderated
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To: Raymond Duray who wrote (2224)6/25/2002 5:18:15 PM
From: The Duke of URL©  Read Replies (1) of 3602
 
Harvard guy said "lots of demand" from immigrants.

Yeah, but NOT for 250K+, that study was totally slanted to the banks.

Ford Foundation has a Housing Institute, headed by a guy named McCarthy; he should be listened to.

Harvard guy said no disruption unless MAJOR increase in rates.

Bullshit. Apparently Congress feels they have also repealed The Law of Net Present Value. :))

If interest rates go up a lousy 1% the value of the house decreases 18%!!!!! on an original 6% loan. How many people do you think are going to stick around paying $4000 P.I.T.I. while loosing an additional 60 Thousand dollars a year in equity on their house????

The price of housing is Increasing now, not because of an increase in intrisic value, but because of a government substudized availablity of purchase money.

McCain did say Wahington was "awash" in unaccountable campaign cash.

An you thought Priceline.com was chancy at 220???? Just watch.

What is bad about this is that it SUCKS the money out of the market in thre ways:

1-Indiviuals need cash for the down and the monthlies, to pay the bank.

2-The bank stops lending money to companies other than its own captive home builders.

3-None of the money is being spent on anything that helps the economic engine of business, its all passive income or personal. Nothing wrong of course unless you put some priority on the Country generating a GNP which creates stuff.

But you must answer my riddle. How, grasshopper, can a bank lend money at 6% and make a 15% profit every year???? Hint: the answer is not "the money multiplyer" effect.
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