The only people that will seriously get hurt are those that have
mortgages/owe money. Esp adjustable or interest-only mortgages.

I purposely bought a small house that I could afford to pay cash for.
Five years ago, people told me I was nuts, didn't I want to make
appreciation money on the biggest house I could afford?

No. I refused to be buried in debt. As the job market disappears and
wages go down, I will still be able to live. I may not have 3 bedrooms
and 2 baths....but at least I can pay the bills with the lower wages
being paid in this country now days.




On Thu, 24 Aug 2006 01:02:19 GMT, Dick Chisel wrote:


All well and good, but paying insane prices for real estate is a
"bubble" and when the bubble bursts (as they all do), the -ENTIRE-
country gets hurt...even maroons in Holland Michigan.

(Or doesn't your feeble brain remember how bad the -country- got hurt
when the "dot com" bubble went bust????)