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  • Why We're Still in the Early Innings of the Bursting of the Housing and Credit Bubbles - And Implications for MBIA and Ambac [View article]
    Houses have gone from 2 times annual income (philadelphia employed engineer) down to the Long Island Levittown cape cod's for 2.3 starting engineer's annual wage.
    Fast forward to today's market the number is 5 times the starting wage.

    Therefore, a house is only worth about 150k. Smart people should rent.

    Mar 09 23:41 pm |Rating: +3 -1 |Link to Comment
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