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

To: Mike Johnston who wrote (88275)	10/31/2007 9:07:41 PM
From: Cogito Ergo Sum	Respond to of 110194

Don't you think housing would rise and fall irrespective of GSEs ? When I bought my first home the real estate agent was telling me.. oh you can carry up to 40% of gross income ... interest rates were 10.5... I just looked at him like he was nuts.. 40% ?? Anyway it worked out well for me.. (we ended up well under 25% debt ratio) It was the start of the mid 80s housing boom up here and I would have been shut out otherwise... Now I've got a solid asset free and clear. All I can say is it worked out well for me. regards blackie Cute and Cuddly Canadian.. EDIT: Yeah I do see how the whole system was badly abused...