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  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] The lull before the real estate storm
  • Date: Wed, 26 Jan 2005 17:48:34 -0700


tvoivohd---nope, it was a bargain I could not resist

Most home purchases today are seen as investments. Many feel today's prices, in a rising market, are bargains they cannot resist. Time will tell if they were right or wrong.

The fact that it is currently possible to buy a house with payments fifty or sixty percent of the buyer's monthly income, doesn't mean it is intelligent to do so. The odds of the buyer losing his job are a lot more likely than keeping it long enough to accumulate any equity. All he can realistically look forwart to is foreclosure and destruction of credit

An individual with a top FICO score has proven that he knows how to handle money. That's not to say he can't make a mistake. How many wildly successful business people have been bankrupt? Many. More than once? Many.






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