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Politics : Foreign Affairs Discussion Group
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To: bentway who wrote (171036)9/21/2005 2:54:24 PM
From: geode00  Read Replies (3) of 281500
 
Popping the RE bubble. Californians can borrow 750% (and, who knows, maybe more) of their income to buy a house. It's those dang interest-only mortgages which balloon to include higher rates (most likely) and principal 3-4 years down the road.

Jeepers.

Bubble? This is unreal. In the last California bubble, after which LA plunged some 40% off of its highs, I think the borrowing ratio was 300%.

Jeepers.
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