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: CalculatedRisk who wrote (21589)	1/17/2005 9:00:47 PM
From: SouthFloridaGuy	Read Replies (2) of 116555

Just musical chairs going on in the housing market right now. My father did the this recently. Figures that he can sell his $500k home for a $300k profit (5 years owned) and move to an $800k home. Puts $100k extra down and his mortgage is only $400k. Monthly payment stays within his means and he "swears" he's not moving anymore. A rather stupid way of looking at the world, but hey, that's why I make 5 times more than him at 30 years of age and am quite happy paying rent and driving a used car that does 35 mpg.

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