Yes, there truly is a sucker born every minute. Around the world, the financially ignorant masses could care less what the home's price is - they only care if they can afford the (current) monthly payment - on the house, on the Lexus, or on that new furniture set.
Here's a website (thanks JohnFC) that perfectly illustrates this stupidity - all the houses featured show only the monthly payment - an NOT the price. But hey, who cares about the price, even if it's plummeting. It's the monthly payment that matters!
Plus they've got a really cool logo - so trustworthy and prestigious, those guys at Presidents!
June 24, 2006
Posted by blogger at 6/24/2006