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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (224691)3/1/2003 9:17:21 AM
From: Mike M2  Read Replies (2) of 436258
 
MM, what a clown. Home prices have essentially doubled since 1993 in the greater NYC region and many other areas I'm sure. The guys at the Fed may not realize it but the bigger your mortgage payment the less you have to spend on other things- not conducive to economic growth. The housing bubble is just another generational wealth transfer - if you were born and bought at the right time it's great but if you buy a house now - you are going to be left holding the bag. mike
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