There are places in Europe where you pay 75% income tax. There are places in Europe where the “people” support an archaic monarchy.
Please….I hope we are not going in the direction of Europe, I don’t hold Europe up as a standard to aspire to.
100 year mortgages…that is indentured servitude. You are renting – plus you “own” pay property tax and upkeep on a crappy 100 year old outdated home?
What created this bubble market is hysteria and ridiculous financing, wasting investors money, a lot of it foreign.
I don’t picture foreign gov’ts trusting the US with their hard earned money for investment in sham mortgages in the future.
If Americans are stupid enough to buy into the 100 year mortgage – then we are truly finished. I think at that point we would be ready for revolution.
