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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (199718)	5/2/2009 9:55:56 PM
From: Skeeter Bug	Respond to of 306849

the boomers, in general, are looking for the government to bail them out of their debt ridden way. the politicians know this... and voila... we get what we get. i'm hearing stories from regular folks that show them in high risk situations. i mean, "lose everything i've worked my whole life for" type situations. i'm talking business owner and director level people. i tried to talk someone out of a refi to buy a 2nd home at "$60k off." when i asked him why he didn't sell his home to buy the upgraded model, he replied, "because i can't sell it." iow, the market was too crappy to sell. his solution? by a more expensive house and ride both down to the eventual unemployment line and lose FREAKING EVERYTHING. i hope he listened. my friend that ignored my advice (and followed donald trump's advice after a workshop!) and bought a condo in early 2006 is regretting the day he did so. badly.