Reply #33: Gee.. [View All]

[sendero]

... I live in a house that is just under 3500 sq ft, it is by no means a mansion, though after living here a while we realized we could do with 1000 feet less.

I don't object to anyone having a nice house, but my worry is that with all the crazy zero-down, ARM, and even negative-amortization financing going on, lots of folks will not be able to handle both an increase in fuel costs and interest rates. The resulting batch of foreclosures will literally hamstring the housing market, I've seen this all before.

My house is paid for and is dedicated to provide my kid's college funding, so I'm not worried about such issues :)