lets say a typical house today people buy in bottom end and most common is $220K the way you up rampers talk it will be worth say $400K by 2011 which is only 3 years away
Subprime should be finishing up around then, and lets say interest rates are around 11% by then from the thousands of billions lost from subprime ($250 billion lost in first 6 months if i remember correctly)
your typical home buyer houshold income on say $60K+ P.A will only be able to borrow $180K
so how are they going to be able to buy your $400K house's at the bottom end of the scale?
any up rampers want to take a shot at answering that one?
