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hokiehunter07

Joined: 01/01/2005 Posts: 4140
Likes: 2021


People have money and are being irresponsible.


They don't understand personal finance. They think payments and new toys.

Look at houses. People are paying 30+% over the prices from 2 years ago b/c interest rates are low and payments are low. Problem is you paid $250k for your current house and buy a slightly larger $350k house that's selling for $450k. Now suddenly interest rates rise and demand falls. As demand falls, so does market price. Now your $450k house is worth $300k-350k. You lose your job and need to move.

You lost $100k-150k just like that. That will prevent many from taking promising jobs in other areas.

(In response to this post by jmanatVT)

Posted: 11/05/2021 at 11:02AM



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Current Thread:
  I've never seen one 21 feet long ** -- HokieMacDaddy 11/05/2021 11:55AM
  She must be very eager to buy it. ** -- GreenvilleVT 11/05/2021 11:07AM
  People have money and are being irresponsible. -- hokiehunter07 11/05/2021 11:02AM
  It's Carmax -- hokiehunter07 11/05/2021 11:25AM
  The Darwin Award exists for a reason ** -- Brown Water 11/05/2021 10:37AM
  Why wouldn't you? ** -- HokieForever 11/05/2021 09:42AM

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