TeePee4Prez
Flyers2004
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Posts: 10,479
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« on: October 02, 2008, 11:03:47 PM » |
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I'm torn as well. And yes for the same reasons above.
Also, this is a wakeup call on general financial literacy of the American people. I mean you have people making $50,000 per year getting no doc loans to buy $500,000 houses. You also have greedy speculators and mortgage brokers in this quagmire as well.
Again, not to make a PA 13/local issue again, but I've noticed housing values have skyrocketed in parts of Northeast Philly despite the neighborhood getting worse. I've even heard reports on people from out of state buying properties to put up for Section 8 rental income. A lot of people who previously rented and had no money down were able to bid for houses that were normally far out of their price range.
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