Quote:
Originally posted by Porsche-O-Phile
LOL!
Unreal! Here I am fretting over the affordability of a $2,000-$3,000 a month mortgage payment and here's some kid that can go get a $5,000+ a month payment on obviously bogus stated income. Why do people do this kind of thing? Do they think foreclosures don't really happen or what?
Just came across this too (kind of aprospro, given my lamenting about how many empty homes are out there with still tons of people that can't afford one. . .):
http://money.cnn.com/2007/02/05/real_estate/housing_vacancy.reut/index.htm?cnn=yes
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When you are convinced that the property is going to be worth X + 20% next year, and X + 20% the year after that, and so on, you really don't care what X is.