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Author: skibum104 Three stars, 500 posts Number: of 318625  
Subject: I've read some mad stuff before but.. Date: 05/03/2009 14:15
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..Richguynot's comment: "my mortgage rate is now 1.5% Hooray!" and some of the subsequent posting has to be some of the craziest. (Nothing personal intended btw)

We have all time interest rate lows, the economy is on it's knees and sinking, savers are getting screwed, we are embarking upon untested and dangerous fiscal experiments, we are attempting to overcome an issue of massive overleveraging by borrowing more money etc

And people think's it's great because their mortgages have gone down.

It is exactly this myopic, short termist obsession with housing that got us into this mess and yet some people are still celebrating.

FWIW I should be celebrating too as my mortgage is 0.68%, but I'm not. There's bigger stuff out there and I'd far rather be paying 5% on my mortgage in a properly managed economy.


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