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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (232515)	12/24/2007 12:16:29 PM
From: quehubo	Read Replies (2) of 794399

I had young neighbors who vacated their house after their second layoff. I was amazed they could afford to move into the neighborhood, I assumed they had some money from somewhere else as I did not think a young trades guy could carry much of a mortgage. But they did their yard up with fancy patio's, new cars and motor cycles. I suspected they had no other money when they told me they were behind on their payments to the landscaper for the initial installation Well they sold their furniture to raise cash for the move. I know this is not an isolated pattern. We visited some friends in California 18 months ago. All my wifes friends were becoming real estate agents. 20 somethings where talking about how much money they made flipping condos. A classic pattern made worse by really reckless lending that will extend the bust for years.

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