Zeev's Turnips Patch-No Politics (ZEEV)

[goodluck]

Culmus,
thanks for your post on housing. But I don't agree with one comment you made: "If interest rates should increase just 2 percentage points the debt service will hit the consumer quite hard." That depends on whether people have taken out adjustable rate mortgages or not. Those with fixed rates won't suffer (unless, of course, they lose their job!). Judging from the people I know (which admittedly may not be a great sample), people are locking in these rates, not taking the chance that rates won't back up.

JMHO,
Sam