Tuesday, July 25, 2006

700k homes on 70k income

As an avid reader of Fatwallet, I came across an interesting post yesterday. The discussion centered around the brave or stupid owners of $700,000 homes with income in the neighborhood of $70,000 for the entire household.

Read the post here:

Reading post after post one would believe that mortgage interest rates are going to rise to 11% before 2007! My goodness give me a break. You can predict the short term economic future with great success, but you can't predict intangibles. You can't predict the unpredictable. Who could predict $3.20 gas prices five years ago? Who could predict 9/11 five years ago? Who could predict Krispy Kreme tanking in the manner it did? You can not predict the future, but you can make beats that have odds behind them. Listening to media and mass market commentary are like playing the slot machine, the odds belong to the house not you.

And if you are going to bet, do not play the nickel slot machines. Skip the slots if you can. But at least bet using $1 or if you can $5 limits. The jackpots are bigger and the payouts are too. If you lose, you should have gained a costly education as opposed to cry about losing $100.


Devon Reese said...

this post makes absolutely no sense. you started off very strong, but by the end of the post i was wondering what you were talking about.

Junita Shabala said...

I also read this on FatWallet. It also made me puzzled. I like to recommend for more coupon codes.