The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: GST who wrote (57509)	4/7/2006 10:34:57 PM
From: TheStockFairy	Read Replies (3) of 110194

Anyone that is a homeowner and was going upward is kinda losing in my neck of the woods. The carrying cost of a McMansion is a bitch, around here 2.5ish% of $1,000,000 for taxes. On top of that, heating and cooling plus lawn, ect. One of my friends needs to make $80,000 per year to support his home alone, not counting food, eductation OR his mortgage (under $300,000 currently). His salary is tied very much directly to the home building market also so he's in kind of a strange pinch now. So basically what my friends and myself were looking at was to take like $50k gains on the house and roll it into someone else's house that gained $250,000 or more. I haven't done it yet myself so I'd end up taking the worst of the upticks. That's what freaking sucks. And yes, everyone was planning on moving less, they already moved into their perm house during this whole boom. Interest rates are of little consequence.

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