Thursday, November 15, 2007
(MSP Airport) Some of the Rich are More Like You and Me Than They May Want You to Think
by Tom Bozzo
Now, I wonder if the Minneapolis-area luxury housing rags still carry as many ads hawking LIBOR interest-only ARMs as they used to...
(Later, maybe: blogging, or not blogging, from a New State!)
While we're All Calculated Risk, All The Time here, the Census data here on percentages of owner-occupied houses with mortgages by housing value are pretty interesting. If you wonder where people get the money for expensive housing, just keep in mind that houses worth more than $500,000 are a bit more likely than average to be mortgaged — about 76% vs. 68% overall. In some parts of the world, the mortgages probably aren't just to pay for the last kitchen remodel, either.
Now, I wonder if the Minneapolis-area luxury housing rags still carry as many ads hawking LIBOR interest-only ARMs as they used to...
(Later, maybe: blogging, or not blogging, from a New State!)
Labels: Calculated Risk, Housing Bubble
Comments:
<< Home
Have fun. Went whitewater rafting there once; Tiananmen Square occurred concurrently.
Trust you will prove correlation is not causation.
Post a Comment
Trust you will prove correlation is not causation.
<< Home
