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

To: Jim McMannis who wrote (36436)7/20/2005 8:54:39 PM
From: Mike Johnston  Respond to of 110194
 
I agree.

At least the feds could have taxed all those bubble profits realized by foreigners and lower the taxes for everybody else.

Also, for a first time buyer that is paying today's prices, the ugly truth is, that it is impossible to repay the mortgage with middle-class wages without a great deal of hardship. 400K mortgage with another 300K in interest + property taxes and maintenance etc on 60-70K annual gross ?

Obviously nobody thinks they will have to repay the mortgage from wages.

I don't think majority of today's buyers realize the enormous amount of money they will end up spending and the hardship they will face should no further inflation in prices occur.



To: Jim McMannis who wrote (36436)7/21/2005 7:05:04 AM
From: John Vosilla  Respond to of 110194
 
Sure looks like everyone is at risk except those who cashed in their chips and don't need to work for a living here<g>. Florida is toast for the next cycle and it appears and very few seem to grasp that.


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