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

To: yard_man who wrote (53623)	7/20/2006 1:45:19 AM
From: marcher	Read Replies (2) \| Respond to of 116555

"keep an ongoing payment"...Well, I think that's the thinking of many who are buying, or have bought, homes in California. The primary question here seems to be, "Can I afford the monthly mortgage payment." Everything, and I do mean everything, else is a minor concern. If this is the decider, a 40+ year mortgage is the solution. I'm afraid that most home buyers are simply living month-to-month...and hoping to refinance for a vacation or a big toy. I hope not but am afraid that the 40+ year mortgage will keep this thing afloat. Why not?