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To: Dale Baker who wrote (1410)	9/27/2007 3:06:31 AM
From: John Carragher	Respond to of 1718

having 11 corporate relocations most during the worst of times housing is a nightmare. i lost big time , rates at 18%, carter, or ford, economy so bad he had tax credit to buy new homes. boom with new industry or major industry in area goes bust.. like detroit. Most of my friends who never relocated have major equity in their houses. why location, location. locations.. Boston, Fairfax va, los angles.. and some in chicago. None of these people are hurting , price declines cannot even come close to the appreciation in their houses over the last few decades. most are all millionaires , were middle income or lower blue collar workers, enjoying second homes in florida , taking vacations , etc. this credit crunch means nothing to them. meanwhile , i have a mortgage of about $80,000. little equity, and housing where i live has not appreciated very much. do i care. not one bit. the important thing is quality of life. My home is larger, newer, more land and hundreds of thousands of dollars cheaper than smaller , older, no land houses in boston and Los Angles area. So what difference does it all make, these people are not going to sell their home, the equity most likely will be passed on in their estate to the kids or used for nursing home, oops can go on welfare before losing home. do not count equity in home to determine if you qualify for medicaid. so you can have a million dollar home and collect welfare.

To: Dale Baker who wrote (1410)	9/27/2007 6:42:39 AM
From: Real Man	Read Replies (1) \| Respond to of 1718

(Discontinued) M3 is growing 14% per year. With these cuts and this M3, I expect housing to start bubbling again pretty soon and the homeowners to be bailed out by the rising tide of inflation, just like the stock investors have been. A 10% rise for home prices will end the housing crisis. But... like all other bailouts, that bailout won't come without a hidden cost - don't look at the dollar.