Some info. from the mailing list of our accountant
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sasha96
lovin' my 2 little ladies!
Member since 5/05 7401 total posts
Name: Julianne
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Some info. from the mailing list of our accountant
Thought I'd share FYI:
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Subject: Greenspan Speaks about housing
The Chairman's comment about housing and risk imbalance is similar to that famous comment years ago about `irrational exuberance." His warning: housing loan `liquidity' (mortgages liberally available at low rates, considered low risk to lenders) can change `overnight', causing the housing market to constrict and become much less attractive. Tighter money is likely to result in a trend towards slower home sales and turnover, lower home prices, along with the potential for higher mortgage carrying rates and an increase in bankruptcy filings ( bankruptcy laws are soon to change and are far less forgiving ). He thinks home buyers/owners should become cautious/more conervative. My thought would be to `lock in ' these low mortgage rates by converting from the no-interest and variable rates to a fixed despite the higher monthly carrying payment.
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Posted 8/26/05 5:06 PM |
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