Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Gib Bogle who wrote (71352)	8/29/2009 11:01:46 PM
From: Maurice Winn	2 Recommendations Read Replies (1) of 74559

Gib, you should read for meaning. The point was the psychology of people who "buy" houses, meaning they borrow a lot of money and give it to somebody in exchange for certain legal rights to the property. They think they own the property but they don't really other than in a limited way. Lenders are not evil. Heck, I am one! Not that I get any interest from my current US$ loans. I don't see how you could conclude I might think mortgagees might be evil or even bad or otherwise undesirable from what I wrote. Foolish to lend to people with a good chance of running into repayment problems, but that's a statistical risk they thought they had about right. Perhaps soon I'll have to pay people to borrow my money to buy a house [if the Swedish idea gains currency]. Somehow, that won't appeal to me. 0% interest is bad enough. No wonder NZ$ is going up versus the US$. Mqurice

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