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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (42369)	12/7/2005 11:48:36 PM
From: mishedlo	Respond to of 116555

Emails on Housing Some of the stuff people send me is funny. I have no idea whether or not any of it is true but here goes: My friend, 'the hairdresser', which I must say is quite talented as he charges $110 per haircut in Georgetown, Washinton, D.C,. has decided that now is the time to buy real estate. Of course I advised him not to, but he doesn't listen, and told me that in a year he will have equity in the house so he could start a business. Anyway, he just told me that he was approved for his 2nd home purchase in West Chester, NY. He was approved for 100% financing to the tune of $490k. He said that his mortgage broker told him she had to write a letter explaining why he only has $400 in his bank account, but nonetheless, he is 'Approved'. Yes, I said Four Hundred Dollars. And I thought the forex market had great leverage!!