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: John Vosilla who wrote (23458)	2/13/2005 10:37:32 AM
From: Crimson Ghost	Read Replies (1) of 116555

the current housing bubble indeed rivals the NYSE in 1929, Japan in 1989, and the NAZ in 2000. Headline in today's PALM BEACH POST Who is buying all those $500,00 houses? More people financing big houses with new loan options such as interest only mortgages. They're banking on fast profit, not future security. People earning as little as $35,000 annually now "own" $800,000 houses that they hope to sell for a million or more within a year or two.

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