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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (247)	7/21/2003 5:59:57 PM
From: Little Joe	Read Replies (1) \| Respond to of 110194

You ask good questions, but I don't know the answers. I know I bought my first home in the 70's. I seem to recall that I and most of my friends had spouses who worked. I know I make a lot more money now than I did then and so does my wife. I agree that it doesn't seem to go as far. I know that it was not unusual when I bought my first home for couples to have a "gift letter" from their parents to scrape together a down payment. I even remember being put off from buying a piece of waterfront property that I thought I couldn't afford because of the $40K price and a mortgage payment that was a third of my current mortgage. I understand the argument that we are stretched to the limit today, but remember the govt literally has the power to print money. They have already made direct cash disbursements to the american people via "income tax refunds", so the precedent is there. My bet is on virulent inflation, until the market proves otherwise. Little joe