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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (9118)	9/9/2006 5:58:44 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 219165

It's probably wise to ensure one can keep up with likely increases in interest rates before borrowing a huge heap of money. When one buys a house, one pays cash. One is acquiring a commitment if one borrows money to "own" a house. One had better understand said commitment. When they buy an "adjustable" rate mortgage, did it not occur to them that, since interest rates were at world record lows, never seen in human history other than a couple of times, that interest rates might go, um, you know, UP? So, maybe their house will soon be back down to the price it was 3 years ago. So what? It might be 10% cheaper, but they've enjoyed paying no rent. People should take responsibility for their dopey financial decisions, not blame some guy who kindly uses his older years to run the money system the irresponsible ones choose to use [by democratic process]. Mqurice