TractorByNet.com - View Single Post - gloom and doom about the economey be darned!

mike5.56 · 05-09-2008, 02:58 PM

I own the land, and have no other debt. Borrowing the money to build a house is what is making me nervous, especially as my main source of income is in jeopardy with every increase in the price of oil. The only reason that I'm willing to do it is that getting a 30 year mortgage at a low rate, and paying it back in devalued dollars takes the sting out of the debt. I'm hoping that the "system" holds together for a couple of more years at least, but the overall macroeconomic picture is getting darker by the day.

05-09-2008, 02:58 PM	#29 (permalink)
mike5.56 New Member Join Date: Jul 2007 Posts: 11	Re: gloom and doom about the economey be darned! I own the land, and have no other debt. Borrowing the money to build a house is what is making me nervous, especially as my main source of income is in jeopardy with every increase in the price of oil. The only reason that I'm willing to do it is that getting a 30 year mortgage at a low rate, and paying it back in devalued dollars takes the sting out of the debt. I'm hoping that the "system" holds together for a couple of more years at least, but the overall macroeconomic picture is getting darker by the day.