John, Yes, houses are expensive. Maybe prices will drop now. But this is the same old cliche story we always see. Poor people who can't afford the basic necessities. Sometimes their own choices are at fault, sometimes bad luck or illness. The only difference here is that some banker was dumb enough to lend them $$$$.
The government bailout has focused on bad jumbo loans, $350,000+. Regards, Bob S. On Fri, Nov 7, 2008 at 4:51 PM, John Sessoms <[EMAIL PROTECTED]> wrote: > From: "Bob Sullivan" <[EMAIL PROTECTED]> >> >> I'm suprised by the focus on the low priced home segment of the market. >> News reports here put the bulk of the problem in the high ($350,000+) >> priced homes. >> This report becomes a kind of cliche...hard luck stories of broken people. >> Regards, Bob S. > > There is no "low priced" home segment of the market. That lady who was > living in her van had a $180,000 mortgage on that house, and you can look at > it and tell it ain't no McMansion ... less than a thousand square feet. > > > -- > PDML Pentax-Discuss Mail List > PDML@pdml.net > http://pdml.net/mailman/listinfo/pdml_pdml.net > to UNSUBSCRIBE from the PDML, please visit the link directly above and > follow the directions. > -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
