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Scary Housing Bubble Mortgage Calculator

Now that the housing market is tanking — as I’ve been saying here for well over a year and in private conversations for 3 — many of my previously bullish friends are now turning bearish. The most common question I get today is “How did you know, if the media said housing prices always go up?”

Simple. For thousands of years, we’ve understood interest and we’ve understood debt. Those who spend beyond their means will either be slaves to the asset-owners who are loaning them the capital, or they will lose that asset because they can’t afford it. I have a few rules for buying a home…

Read the rest of this article at the housing bubble site.