10-28-2008, 04:20 AM
A member of my beer brewing group was discussing this recently. He is fairly young, in his mid 20's, young married, has his first child. He applied for a home loan and was approved for over $200k even though he is the sole income for the family at under $50k/yr. He said that was bullshit so he bought a house for $135k with a 15yr loan. He is quite please with himself and so am I.
There's nothing new here. The people giving loans were greedy, the people accepting the loans were greedy and stupid to boot. What is the answer? Hell if I know but the bailout goes forward wether we want it to or not.
The primary recipients are those who require their current investments to retain their worth. Those of us 20 years away from retirement are just experiencing inflation.
There's nothing new here. The people giving loans were greedy, the people accepting the loans were greedy and stupid to boot. What is the answer? Hell if I know but the bailout goes forward wether we want it to or not.
The primary recipients are those who require their current investments to retain their worth. Those of us 20 years away from retirement are just experiencing inflation.