VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (52045)	5/24/2002 3:44:06 PM
From: steve susko	Read Replies (1) of 65232

>> consumer confidence is high (why? I will never understand) My guess is the refi business that has mushroom like a huge dark cloud over the last few years -- consolidate the credit cards into one big 2nd, 3rd ...... mortgages, and be able to deduct interest paymnet off income tax. As housing price rose the equity ratios enabling additional mortagages. Insurance companies make hand over fist in mortgages insurances as home owners max out their borrowing to even less than 10% home equity. Creative financing is now standard practices.

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