[McMimmcs]

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Originally Posted by Jeff/Illinois

Synchro well said, and the same thing is happening here especially in the Midwest. As a rule, we are usually more careful with debt and such than people on the coasts.

I've often said 'WHY do these people building houses today have to have two story 5,000 sq. ft. five bedrooms four bathroom houses, and they usually have no kids or maybe one?? You see that a lot in Peoria and the Chicago suburbs. Interest rates are low so people are building these huge houses they have no need for, hoping they will go up in value I guess and they can unload them on some sucker.

That may be about ready to backfire on big homeowners as utility rates are supposed to skyrocket (natural gas prices have doubled in the last 8 mos., electricity will quadruple if they go to all wind turbine power) and this week our tax guy said that our property taxes are going up next year, by anywhere from 25-100%, because 'houses are worth so much more $$ now and we are re-appraising them.'

"It's silly as having one sole object in life, accumulating wealth. All you really need is a small house to get in out of the weather, to get cleaned up, and sleep in a warm dry bed, and something to eat, and some warm clothes. Everything else is a farce, a waste." Johnny Carson. Midwest Nebraska boy born and raised.

and I’m sure you don’t buy luxury items like a Model A! Hahaha