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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (6326)	10/28/2002 10:27:50 AM
From: maceng2	Read Replies (1) \| Respond to of 306849

sounds like a deal -g-. I have a 20 yr variable but with a 2 yr kick in delay. It's worked for me the last 7 yrs -g- I can also re negotiate it if necessary so I only pay interest. I could afford the mortgage even on minimum wage. I sleep soundly too. The folks in the more vulnerable positions are young families just starting out. Buying a home with maybe a kid or two on the way. They must be careful not to max out too far on the mortgage side. i.e. do not assume they will be sequentially better off each year. (imho)

To: Tradelite who wrote (6326)	10/28/2002 1:26:53 PM
From: fatty	Read Replies (2) \| Respond to of 306849

>A nice low interest rate at a known monthly payment for 30 years beats worrying about where house prices are going any day of the week. My opinion.....and I like to sleep at night, calmly. <g> Well, if you live in Boston, that translates to a 800 sq ft condo costing $1800 per month for 30 years with a $60k downpayment. You saved 3 years for that $60k and you are using 50% of your pay check for the mortgage. You'd better have a good night of sleep because tomorrow you will need to work overtime for that $60K a year job.