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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (5917)	5/9/2004 12:11:11 PM
From: Haim R. Branisteanu	Read Replies (3) \| Respond to of 116555

if this is true and wide spread we are heading for a major disaster. All those people who do not have the money for a down payment will not have the money to pay the mortgage sooner or later. It will pose a systemic risk with interest rates going up a mere 1% as mortgage payments will grow by at least 30% to 50% from present. No way that income will rise to compensate higher interest rates. After all 1% rise is 100% more interest