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

To: Real Man who wrote (39689)	8/25/2005 11:05:48 AM
From: John Vosilla	Respond to of 110194

The transfer of wealth to RE land barons of late has been astounding. It is tough for the general population slaving day to day in their jobs and small busineses in this environment. Keeping up with the Jones's and getting the latest toys trumps any short term concerns about debt levels. Any wonder so many took the plunge into RE late in this cycle. I was talking to a mortgage broker the other day doing a refi for a property I hold a mortgage on that I hope to be cashed out of any day and he said 85% of his clients these days have some type of serious credit problems way beyond one or two late pays.