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MikeWaters

09-17-2008 02:36 PM

the mortage mess is really the housing price mess

How did we get to the point where cities have median prices near a half-million dollars for homes?

Did we think this was sustainable? (yes)

Crazy, crazy, crazy.

Indy Coug

09-17-2008 02:56 PM

Some very crude numbers how much additional home you could get for the same price, but at a lower interest rate.

Code:

Int Rate $2000/mth P&I   % Increase

8%        $274,384.10         0.00%

7%        $302,368.72         10.20%

6%        $335,251.14         22.18%

5%        $374,115.58         36.35%

4%        $420,318.89         53.19%

Yes, it was an unbelievable systemic failure.

MikeWaters

09-17-2008 03:00 PM

your further display or moronic-ness is entertaining.

I see you dancing in the streets with a parasol within two years.

Indy Coug

09-17-2008 04:02 PM

Quote:

Originally Posted by MikeWaters (Post 266434)

your further display or moronic-ness is entertaining.

I see you dancing in the streets with a parasol within two years.

So you're saying that the large drop in interest rates had no major impact on the price of real estate?

I didn't claim this was the only reason.

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