Interest-only loans raise the stakes - 06/13/05
This guy has a nice view from his balcony. Hope he doesn't end up jumping off.

SAN FRANCISCO -- Once a frustrated renter, Chris Economou is now a happy homeowner, enjoying a splendid view of San Francisco and an $80,000 increase in his property's value since he bought the one-bedroom condominium for $435,000 a year ago. He credits his good fortune to an interest-only mortgage, an increasingly popular -- and risky -- loan that enables borrowers to lower their monthly payments enough for several years to afford rapidly escalating home prices in expensive markets like the San Francisco Bay area.