28% decline in home value will certainly wipe out ALL the
positive equity in atleast a third of all home owners. That
is because during the first third of a mortgage life span, most
of your payment goes to interest and little towards principle.
And very few homes are bought with more than 20% down.
And since on the average home owners move every 7 years,
just imagine what a negative equity will do to someone who
has to sell due to job change, divorce, etc.
I think it is more like atleast one rear leg of the elephant than
the pimple on his [bleeep].
biggest surprise of the 2007
Started by
greenie
, Jan 15 2007 10:26 PM
11 replies to this topic
#11
pdx5
-
- Traders-Talk User
- 9,527 posts
I want return OF my money more than return ON my money
Posted 16 January 2007 - 02:01 AM
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#12
redfoliage2
-
- Traders-Talk User
- 18,006 posts
Member
Posted 16 January 2007 - 07:25 AM
The data from National Reators Association are intentionally inaccurate. They are the housing market hypers.All data will show that the housing market bottomed in December/January and is on a upswing. Housing stocks will go up, and housing bears will look like thebiggest idiots on earth.
How is that for a surprise????
Only three months later (March-April), it will be discovered that the observation is a statistical artifact, because the government statistics did not include cancellations.
[I borrowed this from someone else, but do not remember the link]
Edited by redfoliage2, 16 January 2007 - 07:27 AM.
