The problem for some people in the burst isn't that housing values will
drop, but rather that they will fail to continue rising. Many a poor dope
has bought real estate with questionable financing based on the idea that it
doesn't
matter how much it costs to float the loan, the price of the house is
going up so fast he's covered no matter what. In a burst or even just a
vigorous slow-down, the interest and fees on the loan keep piling up but the
house stays the same value.
about. With only 11 years to go on a mortgage and no plans to sell unless
you have to, a housing bubble will not affect you at all.
Archive powered by MHonArc 2.6.24.