The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (6886)	11/17/2002 5:39:02 PM
From: Wyätt Gwyön	Read Replies (1) of 306849

OK, median, not average. i agree this makes it sound worse. however, if you consider the source, i don't think they just made it up. i think it is probably a question of definition. as Elroy said, they are probably not including the value of primary residences, but are probably tacking on mortgage debt. otherwise, there is no way 50% of this group, or nearly 5 million people, could be in debt such a large amount. Most people are never allowed to borrow $173K in excess of the asset side. even in the best of times. unsecured lines of credit from banks are pretty rare for average consumers. although most do not need them given how many alternate sources of credit the bubble has provided.

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