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jfern
Atlas Institution
Posts: 53,743
Political Matrix
E: -7.38, S: -8.36
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« on: April 10, 2005, 05:31:44 PM » |
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Interest rates are going up soon. People with variable rate mortages are really going to be hurting. The job market still isn't that great. There will be a number of foreclosures. It'll be harder for people to take out mortgages because of increased interest rates. These will cause housing values to go down. Then some people with large mortgages will have more in their mortgage than their equity, so they won't even be able to sell the house without some income to cover their loss.
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