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: orkrious who wrote (27940)	3/9/2005 7:32:05 PM
From: bentway	Read Replies (1) of 306849

Just as with bankruptcy, which used to be a shameful thing to be avoided at all costs but is now just business as usual, homeownership has changed a lot. Does anyone have mortgage burning parties after making the nut for 30 years and suddenly being able to burn the piece of paper that has absorbed the largest chunk of their income for all that time? How many 30 year mortgages actually get paid off today? Most people today have no such dream. The dream today is to be able to get and cash out your appreciation. If the appreciation goes away, will the mortgage-burning party return? Will housing be once again just a necessary expense instead of a speculative vehicle?

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