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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (37012)	2/2/1999 11:53:00 PM
From: James F. Hopkins	Read Replies (3) \| Respond to of 94695

HI Bonnie; biz.yahoo.com No mention of the lay offs, I live close to Angleton, it's not a big place, it's my understanding that every one at the local plant was laid off, from the Janitor right on up, it's being closed. Houston news is bad too, mostly oil related at this time, but as they lose jobs, then the places that support them start to cut back. It's not looking like growth to me. I expect to see HOUSE FOR SALE signs start to pop up in this area, real estate values will fall. So low interest rates are not so low, if you buy a 100K house now and take out a mortgage to find that next year the 100K house is worth 75K, or less. --------------- Then if you have to move to find a job, you lose your down payment, ( and any equity you might have in one; that is if you owned it long enough ) Last time we went through this people were having to "Pay" to get from under the loan, if they didn't want a bad credit report. Now I'm beginning to understand another reason why the mortgage companies are in deep du du. ---------- Another S&L type debacle coming up with a spin on it, I wonder who will get to eat all the bad loans this time. Jim