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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (472640)	4/17/2009 9:37:57 AM
From: combjelly	Read Replies (1) of 1574817

"15% is enough to drive up the price of real estate by a significant amount." Except it wasn't the engine behind the run up in real estate prices. Get real. You are in a bubble area. How many CRA loans do you think are in your neighborhood? Now, I suspect that there are a fair amount of CRA loans in my area. But we never had a bubble, so you can get a decent house for under $100k. No, the engine behind the run up in real estate values was 'creative' financing. Zero down, interest only and ARM mortgages is what drove the market. The bubble started to deflate when there was a massive reset on the ARM loans in 2007. Remember that? That is when values started to fall.

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