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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Douglas M. Benedict who wrote (46986)12/10/2005 11:44:30 AM
From: UncleBigs  Read Replies (1) of 110194
 
That's a nice story and it is exactly why the person making $60k per year bought a $700k house (worth $225 in 2001) using a pay option loan and no money down in So. Cal. last summer.

If you're asking me would I rather be a buyer or seller of that home, I'd choose seller.

By the time this buyer realizes the trend has changed, it's too late. He'll be bankrupt.
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