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Name:	roswellric -	Reply
Subject:	This weeks Barron's on housing
Date:	8/22/2006 3:18:23 PM

P 33.
Interesting Stats:

--32.6% of new mortgages & home equity loans are interest only
--43% of first time buyers in 2005 put no money down
--15.2% of 2005 buyers owe >= 10% more that the home is worth
--10% of all home owners have no equity
--2.7 trillion dollars in loans will adjust upward in 2006,2007

Don't know all the sources but Barron's is usually pretty reliable. If this is so, there could be a serious liquidation ahead....

Name:	rude evin -	Reply
Subject:	This weeks Barron's on housing
Date:	8/22/2006 10:04:44 PM

.......serious liqiudation along with some buying opportunities for those with a little cash and good credit.

Name:	BamaBob3 -	Reply
Subject:	This weeks Barron's on housing
Date:	8/23/2006 5:32:34 PM

This is very sad! I think interest only loans are terrible unless you only need the loan for a very short time period (months...not years).

So many people get mortgages on the mortgage company's terms because they have no options, no choice. I don't think they really care if people can pay the mortgage or not.

The thing that everyone with a mortgage should do it to pay extra principal payments at the beginning of the mortgage...just as much as they can.

I tried to talk my son out of buying his house because he was young with weak credit. He wound up with a higher interest rate and may be able to break even after three years. He was too impatient.

Name:	Ulysses E. McGill -	Reply
Subject:	This weeks Barron's on housing
Date:	8/23/2006 5:52:42 PM

So very true, Bob.

Everyone has options, but far too many take the option of instant gratification rather than using sound financial reasoning.

As long there are folks willing to stretch their limits, there will be lenders willing to make a buck and help them on their way to a possible disaster.

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