Posted by Jonas on Thursday, October 11, 2007 at 21:45:03 :
In Reply to: Housing slump posted by fleabag on Thursday, October 11, 2007 at 15:32:23 :
Ever since intrest rated dropped below 10% and the GOV dropped the capital gains tax on real estate, everyone and thier brother has been snarfing up houses and flipping them 6 months later for 2x what they paid for them, trying to make a quick buck. Now everyone wonders why theres no affordable housing? Young people have to borrow with those interest only loans just to get into a craphole house, and now look what's happening. It's a big mess and we did it to ourselves because of greed IMHO.
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