Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (5912)	5/9/2004 6:37:45 PM
From: yard_man	Read Replies (1) of 116555

>>A management consultant in Denver, Mr. Thomson bought at $500,000 townhouse last Friday in the suburb of North Cherry Creek. As many other first-time home-owners have done, Mr. Thomson put no money down. Instead he took out a first mortgage for 80 percent of the purchase price and paid the rest by taking a home equity loan against the new house. To reduce his monthly payments, and to qualify for a big enough loan, he took out an adjustable rate mortgage that requires him to make only interest rate payments." And what happens if we get a spike in interest rates? The bank will own the house << nobody wants to add this up. I'll add it up for you: if you are thinking you are going to make money long term by being in RYJUX or shorting government bonds you are stoopit!! The banks WILL NOT be allowed to fail. Other entities will be sacrificed first.

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