[lbo-talk] Re:bubble ownership ( formerly "home")

frank scott frank at marin.cc.ca.us
Wed May 18 14:35:48 PDT 2005



>
>
>"...your zip
>code has an average income of $37,839, making a $499,000 pretty steep!"
>
in the world of sensible financing...

but given the no money down, interest only, adjustable rate wheeling and dealing that now passes for buying (?) a home, that "average" family could pay the $2600 a month "average" payment and still have as much as a whopping $500 left for the rest of life...

seriously, i know a couple who both work and don't do much else in order to pay for the house they can't afford, in hopes that it will go up in value and they can sell it before their marriage is destroyed by the ridiculous life they lead...

a house is not a home, but it also isn't much of an investment, for some folks...

fs



More information about the lbo-talk mailing list