Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (17962)	4/8/2002 7:18:43 PM
From: AC Flyer	Read Replies (3) of 74559

elmat: Nothing against you but I'm so tired of this shit. Disaster sells and the media will come up with some new disaster angle regardless of how they have to stretch the truth. >>Unfortunately, the home might be the new margin account as consumers leverage against unrealized gains, she said. She points out that the average cash-out refinance is $34,000. Yet the median home price is just $150,000. This means Joe Smith is extracting 20 percent of his home value.<< Baloney. Bullshit. It doesn't mean anything of the sort, unless you failed to graduate high school and are fooled by this kind of phony linkage of two independent data points.

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