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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (447617)1/14/2009 8:05:35 PM
From: tejek  Read Replies (1) of 1575803
 
It was, as recently as the early '90's. I bought a house there then, and looked at at least a hundred.

Do you think people in the early 90s who were buying $six million homes were making $2 million per year? The rule applies for people first buying a home but they are a small segment of the buying population. The much larger majority bring equity into the deal. For an example, I couldn't afford my house based on my income but I could afford it because of the equity I put down.
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