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True
But it is a catch-22. Homes are so expensive because more and more people are willing to pay signficantly more because they can take out interest-only loans which keep their monthly payments low even while they borrow more to buy a more expensive house.
posted by
Mihail
on June 13, 2005 at 2:04 PM
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This doesn't surprise me at all. Homes are so expensive there, it's
probably the only way some people can afford them.
posted by
Renigade
on June 11, 2005 at 4:24 PM
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