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

To: russwinter who wrote (36933)	7/25/2005 3:22:51 PM
From: John Vosilla	Respond to of 110194

Well something different is going on this time. In the prior cycles seems the developers and banks absorbed the risk. This time it appears perhaps individuals and Fannie Mae? I for the life of me can't understand people keeping these half million dollar condos dark and accruing monthly taxes, HOA dues and insurance approaching $1500/month for much longer. Okay it works if the unit appreciates another 20% and your option ARM payment at 1% on your mortgage leaves you ahead another $50k in a year but is it worth the risk of this thing crashing hard and everyone heading for the exits who has been thinking the same thing.<g>

To: russwinter who wrote (36933)	7/25/2005 3:34:46 PM
From: loantech	Respond to of 110194

OT: This is the Columbia Gorge Russ mentioned. Just took my mother in law up to Vista house weekend before last. Remodel was tastefully done. View as beautiful as ever. Was a bit hazy that day. vistahouse.com My family and I have hiked to the highest points in the gorge mostly South side from Angel's rest to Starvation Ridge. Mt. Defiance North was a heck of a trek. <g> If you get a chance the hike on the East Side next to Beacon rock called Hamilton Mountain. Click on photos on left. localhikes.com