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Ace T
1 Comment
Roubini Now Says House Prices to Fall 30%
Luxury Condo - bought early 2007 $615,000 (mortgage et al $5200/m)
Income - $170,000 (mortgage is 3.6 times income)
Mortgage was a 80-15-5
So what is that equity situation?
Btw - units on the same street as this condo have over 6 mos on market w/ price drops of 20-30K, hovering at the preconstruction purchase price and nothing is moving.