Open Thread

Blowfish, they had those crazy interest only loans that reset before interests were as low as they are now. I’m not sure how those work because I don’t need to know about anything other than 15/20/30 year fixed.

but it was an inflating asset, denton, for years and years. in the eighties and nineties, it must have seemed silly not to invest in a home

quote:
It’s called being a grownup.

oh whatever. another part of being a grown up is knowing what one can and cannot handle. the hassles of home ownership are beyond my capacity. i think it’s pretty grown up to be up front with myself about that.

the disgusting myth of home ownership as the ultimate american dream is just that. a disgusting myth that came crashing down on a LOT of people who never should have been home owners to begin with.

*rob*

“homeownership sounds like a MAJOR headache”

home ownership is not for everyone. The guvment distorted the market by giving tax incentives to encourage it, and a huge number of buyers were silly enuf to do what ishtar says, see it as an inflating asset rather than simply a home. And then there the floods in the basement and roof leaks.

but why would an ARM double, with interest rates so low?