On Wed, 16 May 2007 23:13:23 GMT, "Tom Littleton"
wrote:

lessee, convert your 2000 dollars to the 2000 euro rate, and todays dollars
to the current euro rate. How did you do, expressed in euros, Dave?? I am
impressed that your 24 year old owns his own home.....and, he owes
absolutely nothing to a bank or other lending institution, right? Because,
otherwise, he is just living there, someone
else owns it.

Well of course. Who buys a house with cash. We all have (had in our
case) mortgages at one time or another. Most can't buy a home without
borrowing money. He will pay off the 20 year mortgage and have a
little nest-egg before he's 45.

My point was that I was in my 30s before I could afford a home. My
grandson bought his in his early 20s, and my other grandson is in the
process of buying his, and both of my children bought their homes when
they were in their 20s.

It only illustrates that the economy is good. Unemployment is low, as
is inflation and interest rates. My kids are having an easy time of
it with the present economy. I, on the otherhand, retired and bought
my home as Carter was taking office. Interest rates in the high
teens, unemployment in double digits as was inflation. It wasn't
supposed to happen according to the "experts", but it did and I had a
hard time of it there for awhile.

Djyou see the market today? Up another record high. Of course it is
only on paper, or so they say, and what goes up can come down. Such
is life, eh?