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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (22986)	4/17/2005 10:58:24 PM
From: Jamey	Read Replies (1) \| Respond to of 81492

The DOW sell off is just another chance for the pros to get positioned and then the media churn machine goes on full tilt to entice the losers to buy in and as usual, will get left high and dry on the next sell off. This is old hat. I think the whole stock market is crooked. James

To: sea_urchin who wrote (22986)	4/18/2005 5:27:17 PM
From: The Wharf	Read Replies (1) \| Respond to of 81492

I kind of don't think it is okay here if you have a slew of these properties hitting the market at once and interest rates that are not dropping the loss factor will be too great. From: Elroy Jetson Read Replies (1) of 29766 When the median CA family earns only half of what's required to buy the median CA house, who's buying them? One of the most popular home loans in Southern California is offered by Imperial Savings and others. The interest rate may be something like 5%, but the actual interest-only pay rate is 1.25% for the first five years. In essence, the new home owners pay only 25% of a normal interest-only loan - or perhaps only 18% of the payments required by a normal 30 year loan. Darleen mentioned that the income required to purchase the median priced home in California is $109,380 - when using a normal loan. Yet if you are willing to use this popular "reduced-pay" loan, and claim your income is far higher than it actually is to qualify, then for five years you only need to make $19,688 per year to qualify for that median priced $471,620 California home. My housekeeper owns two homes and my gardener owns nine homes. How do you think they can afford this when both earn only $7 per hour. Both my housekeeper and my gardener are recipients of the lush Monetarist welfare system which subsidizes borrowers and the banking system at the expense of capital owners. Is it any wonder that Monetarists like Ben Bernanke think that a nation with a positive savings rate is pathological. What happens to all of these people at the end of year five, if they can't refinance with a much higher appraisal, is quite ugly.