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Real Estate
Reply to "Federal Reserve: signs abound that housing market is entering bubble territory"
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[quote=Anonymous][quote=Anonymous]I’ve read a lot of people claiming to have made less than 20% down payments on these boards. I would think give this area’s affluence, it would be less of practice here than in many areas. If prices slide, will those who are under water walk and what will that do to the market?[/quote] Generally in frothy markets I take chips off the table, so I sold one of my rentals to a lawyer couple. House I bought for $850k in 2011 and put zero improvements into that I sold for $1.6 million — crazy but that’s beside the point. They only had 100 to put down, which absolutely shocked me but it’s none of my business provided the deal closes. I asked their agent how they found a lender that was fine with that and he told me they used a funky Citi special client loan that was available to them through the wife’s law firm. [/quote]
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