Nicholas Geti wrote: > ----- Original Message ----- > From: "Ricardo Aráoz" <[EMAIL PROTECTED]> > To: "ProFox Email List" <[email protected]> > Sent: Wednesday, December 03, 2008 11:11 PM > Subject: Re: [OT] How to determine if a market has hit THE bottom. > > > >> Nicholas Geti wrote: >> >>>>> And over that same period prices of houses rose astronomically. >>>>> >>>>> >>>>> >>>> Ok. So here's my advice for you two lads. Borrow as much money as you >>>> can at whatever interest rate you are asked. If the interest rate is >>>> tied to inflation or to nominal rate then THAT'S better than static >>>> interest. Go ahead! The world will be yours! >>>> >>>> >>>> >>>> >>> You are doing the same thing as Geoff. Adding assumptions to the >>> borrowing >>> model that started this discussion. I have never seen an interest rate >>> for >>> borrowing tied to inflation. They are always fixed rates. >>> >>> >> Yup, tell that to the poor people that lost their homes to rising >> interest rates! >> >> >> >> > You are still going off the original topic. We were talking about loans at > fixed interest rates; not whether borrowers had the skill to evaluate risk. > Obviously they were either stupid or lied to and believed the lie. When I > got my fixed rate mortgage, most banks refused to lend the money even with > the income from my wife. They were tough 40 years ago. > I don't give a rat's ass for your prehistoric stories about how you bought your house 40 years ago. We are talking of what's going on right now, and the credits that provoked the present situation were taken at most 4 years ago I guess.
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