Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: marek_wojna who wrote (44176)	1/1/2004 8:43:34 PM
From: MoneyPenny	Read Replies (3) of 74559

just a little apocryphal data from someone who deals daily with those purchasing high end real estate in Florida. Two years ago our clientele furnished their new Florida homes with cash or charged the whole thing to get mileage on AMEX, etc. (I'm an interior designer in SW Florida: think Naples, Sanibel, etc.) Today we offer very expensive financing through Wells Fargo, 25% down and no payments, no interest for one year (unheard of for our type of work). The downside is the reach back is 24% and people are going for it. Everyone where I work is ecstatic but I think it says something else. If you buy a vacation home for 2 or 3 million but must borrow to furnish it...I'm uncomfortable. It is not wise to finance things that lose most of their value on delivery. MP

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next