it was true. when the bubble finally burst, the japanese ecconomy went into
recession and is in recession even now.
-----Original Message-----
From: Salkin Kathleen
To: [log in to unmask]
Sent: 1/7/2003 3:47 PM
Subject: Re: Morgages
I remember reading a long time ago, that in Japan, mortgages and rates
were
so high, that the children sometimes had to keep on paying them off when
their parents died. Don't know if this is true or not, but it shocked
me at
the time. Probably was during the 1980s.
Kat
----- Original Message -----
From: "Cleveland, Kyle E." <[log in to unmask]>
Newsgroups: bit.listserv.c-palsy
To: <[log in to unmask]>
Sent: Tuesday, January 07, 2003 3:32 PM
Subject: Re: Morgages
> 5-7X?!?! Good lord! How can they afford the monthly payments on the
> mortgage (to say nothing of taxes, insurance & down payment)??? We
have
> neighbors that were relocated to Ohio from NYC (employed by American
> Electric Power). Of course, their salaries weren't reduced for the
move,
> but because the cost-of-living is so much less in the Midwest than
back
> East, they live like royalty. They dearly miss the culture and public
> transportation, but they fly home to "The City" many weekends and are
still
> way ahead financially.
>
> -----Original Message-----
> From: Joy Liebeskind [mailto:[log in to unmask]]
> Sent: Tuesday, January 07, 2003 3:18 PM
> To: [log in to unmask]
> Subject: Re: Morgages
>
>
> Most families in our comunity are carring morgages of 5-7X annual
wages
> atleast. The average new house in our town is over 600,000. Older
homes
> staret at 175,00 for a starter home. A 3-4 bedroom ranch on an acre
that
> is move in condition, but needs some work is atleast 250,000 & up
> depending on where in town it is. That's why most kids go to daycare
so
> both parents can work. My kids love that I am home, but I worked for
18
> years before they were born, & had a paid off house to sell for this
> one-plus we sold a vacation home in the Virgin Islands-so we have no
> morgage or I would have no choice but to work. I grew up in this town,
> but it is far from the most expensive around. CT is expensive to llive
> in! Joy
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