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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Lizzie Tudor who wrote (70885)10/3/2006 9:37:59 PM
From: Wyätt Gwyön  Read Replies (1) of 110194
 
Most engineers I know can pay over 50% of their income in housing, so be it? What is your problem with this

what exactly do you suggest? should the regulations be rewritten so that "most engineers" known by Lizzie Tudor can borrow as much as they want, but the rest of the population must adhere to stricter lending requirements?

ok to restrict my mortgage based on some crazy scheme that seems to apply to a lot of people you know but nobody I know.

i don't know why you infer that these are people that "i" know but you don't. (though i am happy to concede your superior familiarity with geek workaholics)

believe it or not, when i talk about a broad subject like lending regulations, i take what is called a "macro" perspective, which means i don't think regulations should be determined based on what would have pleased me personally when i was 25 years old, or what might please my coworker.

this "macro" concept means trying to look at the big picture--that is, forget about what happened to you 15 years ago, forget about your coworker. look at society at large. look at history. look at what has worked, what hasn't worked. and decide accordingly. if you set lending up to 50% DTI, you will create problems--that's a sure thing!
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