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| Wednesday, October 18th, 2006 @ 12:12 PM |
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Subj: Re: House prices dropping rapidly... This is happening everywhere. It is because home prices are too high. It is mostly investors that drove the home prices up. Could you honestly think a normal family pay for a 700K Mortgage? Thats like $5-6K a month, in a traditional loan. Home prices should always stay with the Median income. In our area, the median income is 90K. That is equal to a 240K Home. |
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