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Originally Posted by johnafacade
Real Estate in the US is about to become one big ass burial ground for all the people who dumped their debt into their houses and expected them to be an ATM for life.
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Very true, If you have two adjustable rate mortgs.. the first and the equity line you are going to be in big big trouble. I see all the time now around here you can put down just 3% and buy a pre con condo. A year ago it was 20%.
3% is going to be a disaster as a lot of these folks won't be able to come up with the funds to close. It looks like trouble to me. What are current housing starts numbers. Are they still going ahead full steam?