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You wrote, When I bought my home, in my closing documents they showed the lifetime interest - and since I was putting 16% down and interest rates had fallen by 2012 and mine was 3.875, the total interest for a change was less than the sale price and I blurted out "Is that All?" - and my loan officer was actually surprised - since most people don't expect how much they'll pay in interest over the life of a loan.

These days money is cheap. Plenty of people were burned borrowing money when they couldn't afford it. Others were burned loaning money to people that couldn't afford it. The backlash means less lending and less spending, which holds down economic growth. Whether that's a bad thing is another debate I won't weigh in on...

But the Federal Reserve seems to think it is, so they've tried to push down rates and keep them low to stimulate spending. Of course the problem is that people that were burned and people that know people that were burned tend to have problems borrowing (and lending) money again. That avoidance can be voluntary or involuntary; but the result is the same - slow growth in spending ... slow economic growth.

You are just lucky enough and smart enough to take advantage of the situation. Others are not ... one way or the other.

Just say'n...

- Joel
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