Today I saw on the Today show a report about adjustable rate mortgages that are “re-adjusting.” In 2006, you saw a lot of mortgages readjust to rates that seem outrageous. Soon I’ll be fighting to get into the game, but it’s set me back as to what I should do.

Living from house to house trying to make a buck is rough. Yeah you get a payoff, but moving, taxes, and other things are always a factor. I’m 22 and I’m close to “prime” age for this risky business. There’s other factors then just me… there’s my close other too.

Things to think about.

The market in my area is still “booming,” but it is one of the few. On the + side I’m young and I know that this whole bubble thing could re inflate in my lifetime.

Real Estate is with out a doubt the most exciting and scariest biz around. It scares me to think that soon I’ll be getting my feet wet, maybe soaked, but hopefully I’ll have a sense to rescue myself before I drown. The trick here to spot where stuff went right and where stuff went wrong. There’s still more work to be done, but on my list of trends to watch.. I’m following all those people who bought cheap in 2001/02 with 5-6 year low interest rate loans who are now adjusting this year… hmmm. The fallout from this influx of foreclosures means that getting a loan will be harder and down-payments & payment on the principles could probably be required in the future. The times of open loop “fantasy financing” are slowly getting tied up.

Sounds to me like a “boondoggle.”

~J out

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