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To: E.J. Neitz Jr who wrote (48585)6/12/2003 4:32:35 AM
From: Larry S.  Read Replies (1) | Respond to of 53068
 
What is keeping housing going is historically low interest rates and therefore incredibly low refi rates. most homeowners have refi'ed at least once, many several times.
As some one has pointed out here, the cost of owning a home is the monthly payment, not the total cost of the home.
with 4 1/2 to 5 1/2 mortgage rates, the monthly amount is significantly less than the 7 -8% that many folks had. When interest rates, and therefore mortgage rates start climbing again, the real cost of houses will go up, but the prices will likely stop accelerating as fast, perhaps even deflate as the "juice" of low interest rates wears off.
Greenie is likely to keep interest rates low as long as possible to stimulate a so-so economy. larry



To: E.J. Neitz Jr who wrote (48585)6/12/2003 4:32:35 AM
From: Larry S.  Respond to of 53068
 
delete - duplication



To: E.J. Neitz Jr who wrote (48585)6/12/2003 4:32:35 AM
From: Larry S.  Respond to of 53068
 
delete, $^#$^#$% SI


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