[blahblahblah]

…how did a $217,000 dollar condo become $1,000,000?

Two reasons:

1) Securitization of loans allowed lenders to pass off mortgage risk to 3rd parties rather than holding it themselves. They only have to hold the loans long enough to fob them off on the next sucker, so why bother making sure that the borrower is good for the money? And of course they pushed the ARM products so that initial payments were low. This allowed a much larger pool of buyers to enter the market than would normally be possible. Supply held constant, this pushed prices way up.

2) Inflation. How did a gallon of milk become $5? How did your dollar go from being worth 1.25 euros 8 years ago to being only worth .7 today?

[blahblahblah]

…how did a $217,000 dollar condo become $1,000,000?

Two reasons:

1) Securitization of loans allowed lenders to pass off mortgage risk to 3rd parties rather than holding it themselves. They only have to hold the loans long enough to fob them off on the next sucker, so why bother making sure that the borrower is good for the money? And of course they pushed the ARM products so that initial payments were low. This allowed a much larger pool of buyers to enter the market than would normally be possible. Supply held constant, this pushed prices way up.

2) Inflation. How did a gallon of milk become $5? How did your dollar go from being worth 1.25 euros 8 years ago to being only worth .7 today?

[blahblahblah]

…how did a $217,000 dollar condo become $1,000,000?

Two reasons:

1) Securitization of loans allowed lenders to pass off mortgage risk to 3rd parties rather than holding it themselves. They only have to hold the loans long enough to fob them off on the next sucker, so why bother making sure that the borrower is good for the money? And of course they pushed the ARM products so that initial payments were low. This allowed a much larger pool of buyers to enter the market than would normally be possible. Supply held constant, this pushed prices way up.

2) Inflation. How did a gallon of milk become $5? How did your dollar go from being worth 1.25 euros 8 years ago to being only worth .7 today?

[blahblahblah]

…how did a $217,000 dollar condo become $1,000,000?

Two reasons:

1) Securitization of loans allowed lenders to pass off mortgage risk to 3rd parties rather than holding it themselves. They only have to hold the loans long enough to fob them off on the next sucker, so why bother making sure that the borrower is good for the money? And of course they pushed the ARM products so that initial payments were low. This allowed a much larger pool of buyers to enter the market than would normally be possible. Supply held constant, this pushed prices way up.

2) Inflation. How did a gallon of milk become $5? How did your dollar go from being worth 1.25 euros 8 years ago to being only worth .7 today?

[blahblahblah]

The Mexico City airport is as nice as most in the states and is nicer than some (the awful Las Vegas airport comes to mind). There’s not a lot for kids to do, just the typical shops and restaurants and stuff.

Aeromexico is a good airline. I’ve flown it a few times and they are fine. Better service than most US airlines.

One funny thing about the Mexico City airport is that there are these huge 20 foot billboards lining the roads in and out of the place advertising expensive consumer goods, high end real estate and financial services. If you look closely, you can see cracks between the billboards and behind those are some very poor and run-down neighborhoods.

[blahblahblah]

The Mexico City airport is as nice as most in the states and is nicer than some (the awful Las Vegas airport comes to mind). There’s not a lot for kids to do, just the typical shops and restaurants and stuff.

Aeromexico is a good airline. I’ve flown it a few times and they are fine. Better service than most US airlines.

One funny thing about the Mexico City airport is that there are these huge 20 foot billboards lining the roads in and out of the place advertising expensive consumer goods, high end real estate and financial services. If you look closely, you can see cracks between the billboards and behind those are some very poor and run-down neighborhoods.

[blahblahblah]

The Mexico City airport is as nice as most in the states and is nicer than some (the awful Las Vegas airport comes to mind). There’s not a lot for kids to do, just the typical shops and restaurants and stuff.

Aeromexico is a good airline. I’ve flown it a few times and they are fine. Better service than most US airlines.

One funny thing about the Mexico City airport is that there are these huge 20 foot billboards lining the roads in and out of the place advertising expensive consumer goods, high end real estate and financial services. If you look closely, you can see cracks between the billboards and behind those are some very poor and run-down neighborhoods.

[blahblahblah]

The Mexico City airport is as nice as most in the states and is nicer than some (the awful Las Vegas airport comes to mind). There’s not a lot for kids to do, just the typical shops and restaurants and stuff.

Aeromexico is a good airline. I’ve flown it a few times and they are fine. Better service than most US airlines.

One funny thing about the Mexico City airport is that there are these huge 20 foot billboards lining the roads in and out of the place advertising expensive consumer goods, high end real estate and financial services. If you look closely, you can see cracks between the billboards and behind those are some very poor and run-down neighborhoods.

[blahblahblah]

The Mexico City airport is as nice as most in the states and is nicer than some (the awful Las Vegas airport comes to mind). There’s not a lot for kids to do, just the typical shops and restaurants and stuff.

Aeromexico is a good airline. I’ve flown it a few times and they are fine. Better service than most US airlines.

One funny thing about the Mexico City airport is that there are these huge 20 foot billboards lining the roads in and out of the place advertising expensive consumer goods, high end real estate and financial services. If you look closely, you can see cracks between the billboards and behind those are some very poor and run-down neighborhoods.

[blahblahblah]

There is a lot of equity to be “liberated” and 401K money to be drained up there in the 92011. Once that runs out the foreclosures will come thick and fast. Wait a couple of years.

[blahblahblah]

There is a lot of equity to be “liberated” and 401K money to be drained up there in the 92011. Once that runs out the foreclosures will come thick and fast. Wait a couple of years.

[blahblahblah]

There is a lot of equity to be “liberated” and 401K money to be drained up there in the 92011. Once that runs out the foreclosures will come thick and fast. Wait a couple of years.

[blahblahblah]

There is a lot of equity to be “liberated” and 401K money to be drained up there in the 92011. Once that runs out the foreclosures will come thick and fast. Wait a couple of years.

[blahblahblah]

There is a lot of equity to be “liberated” and 401K money to be drained up there in the 92011. Once that runs out the foreclosures will come thick and fast. Wait a couple of years.

[blahblahblah]

DeNiro is right on the money for the case where we get a very bad late 70s style inflation. If you can borrow money today at 6%, it very well may be 12% or more if inflation gets out of hand (some would say it already is). When this happens, salaries will rise quickly and pretty soon we’re all millionaires in American pesos. Suddenly the guy with the $700K home loan at 6% looks like a financial genius.

Damn I hope this doesn’t happen because I’m way too scared to borrow big for a home right now…

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