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Reply #17: Frantic emails are circulating in Washington, I read in [View All]

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Neutrino Donating Member (609 posts) Send PM | Profile | Ignore Sat Jul-12-03 02:06 PM
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17. Frantic emails are circulating in Washington, I read in

a Washington blog "Don't let anything happen to the Real Estate
market, no matter what". It's an idiotic statement because no matter how
you massage the figures, no matter how long Banks drag out Foreclosures,
the handwriting is on the wall. The huge Unemployment numbers that
are increasing exponentially represent homeowners who reached for
prices well above the rule-of-thumb (2 1/2 times Gross Income) in
Purchase prices. Those who have Re-financed three and four times
will never get out even, and as in the late 80's, will likely simply
walk away because there is no Equity left.

The Housing bubble is being held up with duct tape. What goes up
must come down--

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  -Mortgage rate hikes may be bad omen jamesinca  Jul-12-03 03:26 PM   #0 
  - It could be very bad.  brokensymmetry   Jul-12-03 06:13 AM   #1 
  - Long Island's housing bubble has to burst  union_maid   Jul-12-03 06:27 AM   #2 
  - I recently checked some LI prices  teryang   Jul-12-03 07:01 AM   #3 
  - I must say  kainah   Jul-12-03 08:45 PM   #27 
  - Some of us predicted this over a year ago.  reprobate   Jul-12-03 09:32 AM   #4 
  - economic system out of control  paulk   Jul-12-03 10:58 AM   #10 
  - EEEEEEEEEEEEEEEEEEEEEK! Wham!!!  priller   Jul-12-03 09:53 AM   #5 
  - what happens when  RainDog   Jul-12-03 10:31 AM   #7 
  - Why are rates going up?  Lindacooks   Jul-12-03 10:28 AM   #6 
  - Foreclosures are very high right now  Maeve   Jul-12-03 11:05 AM   #11 
  - But are they?  brokensymmetry   Jul-12-03 12:04 PM   #12 
  - ANSWER TO WHY RATES GO UP  shocked_and_awed   Jul-12-03 12:33 PM   #15 
  - Cancel the tax cut?  aquart   Jul-12-03 12:44 PM   #16 
  - Two more: Japanese bond market crash + last FED cut of interest rates  ze_dscherman   Jul-12-03 02:34 PM   #18 
  - rates are not based on short term interest rates  rocketdem   Jul-12-03 05:31 PM   #20 
  - I think the bubble has a little ways to run yet.  bemildred   Jul-12-03 10:39 AM   #8 
  - if Bush had wanted a tax cut to stimulate the economy  RainDog   Jul-12-03 12:21 PM   #14 
     - That works for me.  bemildred   Jul-12-03 08:00 PM   #22 
  - High housing prices have terrible effects on community  starroute   Jul-12-03 10:52 AM   #9 
  - This is a direct result of ChimpCo's record deficits  jpak   Jul-12-03 12:11 PM   #13 
  - Frantic emails are circulating in Washington, I read in  Neutrino   Jul-12-03 02:06 PM   #17 
  - add this in...  grasswire   Jul-12-03 03:01 PM   #19 
     - jamesinca  newyawker99   Jul-12-03 05:33 PM   #21 
     - And after that.. boomers  sandnsea   Jul-12-03 08:30 PM   #24 
  - I must be in the bottom 1% of wage earners.  classics   Jul-12-03 08:12 PM   #23 
  - Or even $250,000  sandnsea   Jul-12-03 08:34 PM   #25 
     - Low $1500 rent?  classics   Jul-12-03 08:40 PM   #26 
        - that's what rents are like here in denver  paulk   Jul-12-03 08:55 PM   #28 
  - This thursday I sign on to my new  bleedingheart   Jul-12-03 10:47 PM   #29 

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