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Old 02-29-08, 08:19 PM
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7rider
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Location: Mountain View, CA
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Bikes: 1999 Seven Sola, 2004 Bianchi Axis, 2005 Trek Madone 5.2 SL, 2006 Merlin Works CR 3/2.5, 2009 Kona Ute, Spot Acme, 2017 Raleigh Roker Comp, 2016 Specialized Camber Expert 29

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More detail from the NY Times:

http://www.nytimes.com/2008/02/29/us/29walks.html

I think this paragraph says why so many people are in trouble:

Last year the median down payment on home purchases was 9 percent, down from 20 percent in 1989, according to a survey by the National Association of Realtors. Twenty-nine percent of buyers put no money down. For first-time home buyers, the median was 2 percent. And many borrowed more than the price of the home in order to cover closing costs.
All I can say is my monthly mortgage would pay for a pretty nice bike.
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