The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (11742)	7/24/2003 6:57:36 PM
From: MulhollandDrive	Read Replies (1) of 306849

>>For the most part people seem to be oblivious to the total price of a house until they sell and are far more concerned with the monthly payment. << such a good point here. we also see this mentality with auto purchases. and of course the dealers encourage this....the last thing they really want you to focus your attention on is just how much you are actually paying for the car. with little downpayment and extended pay period (remember the days when 36 months was IT?) it is so easy to find yourself upside down on a loan. granted an automobile is a depreciating asset and hopefully a house will continue to see appreciation, however, your other point about the marginal areas is also well taken. in other words the loose credit standards designed to help first time homebuyers especially is working to inflate the prices and just may cost them literal thousands of dollars in the near term should rates rise and housing prices correct, hurting the most vulnerable financially the most.

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