The Cyclic World of Housing
The other day, someone asked a real estate professional if they felt sorry about putting people into homes they couldn’t afford.
After being a little dumbfounded for a moment, the agent explained they didn’t think they had placed any buyers in homes, which fit that category. Many of their clients had been professional people, who had purchased nice homes with fairly traditional mortgages, at the height of the market. Some of them had sold other homes, pulling out equity to buy new homes.
Many had seen equity decline in the current market. However, knowing ...
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