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

To: Mike Johnston who wrote (25839)	12/10/2004 8:05:45 PM
From: patron_anejo_por_favor	Respond to of 306849

<<Can anybody explain to me how one can afford a 700K house on a gross income of 8k/month ?>> Buy a $hitload of TOL calls 1 week ago?<G>

To: Mike Johnston who wrote (25839)	12/10/2004 9:23:46 PM
From: BWAC	Respond to of 306849

<afford a 700K house on a gross income of 8k/month ?> Afford? Can't. Buy? Easy. Interest only. 3 ARM. Etc.

To: Mike Johnston who wrote (25839)	12/10/2004 11:12:13 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE":Can anybody explain to me how one can afford a 700K house on a gross income of 8k/month ?" Sure, you sell your "paid for" permanent residence TAX FREE and reinvest in a bigger house. Tax free on 500k means everything.

To: Mike Johnston who wrote (25839)	12/10/2004 11:20:18 PM
From: Proud Deplorable	Respond to of 306849

"Can anybody explain to me how one can afford a 700K house on a gross income of 8k/month ?" You don't. You come and drive me around and pick up the tab everywhere I go >VBG< The otherthing to consider is that the days of middle class Amercia pulling down 100,000 a year in todays dollars are fast coming to an end because all one has to do is look at the NHL wages dispute to see where all this is going.......roll back your wages or get fired.

To: Mike Johnston who wrote (25839)	12/11/2004 12:33:42 PM
From: George8	Respond to of 306849

Mike: You just mentioned one very interesting technical trait of all major homebuilders' stocks. The blowing off for killing short(tax loss covering), and/or running away for sucking long(fear of train leaving without me), especially just before year's ending, will be spectacular to observe. George

To: Mike Johnston who wrote (25839)	12/13/2004 4:14:56 PM
From: TH	Respond to of 306849

Mike, Get a 125% loan to value. Use the other 25% to make your payments. Let them foreclose. With a 7 year ARM you might make it four or five years. As for the direction of the homies, I don't know. I have some small bets at this point, but nothing to lose sleep over. My views is more or less a general decline in mid-Jan, and maybe I'm just trying to be early. Nothing on the horizon can take this market down. Very interested to hear the LEN earnings report on the 15th. They have had a few gliches, so lets see if their world is still as beautiful as TOL. GT TH