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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (14999)	6/8/2004 2:09:58 PM
From: Ramsey Su	Read Replies (1) of 110194

russwinter, seems totally logical to me. federalreserve.gov The last round of refi mania started in Dec 03, with most loans closed by Apr 04. We know that hot real estate markets such as most of California were appreciating at 20+% pace. To put that in perspective, the avg house now is about 9 times median household income. A 20% appreciation equates almost a tripling of household income. TRIPLING. A reasonable person has to conclude that at least some homeowners would take advantage of this gift and pay off some of their higher cost revolving debt with cheaper fix debt. Now that refi is over, evidenced by just about every source from MBAA to report from CFC today, what should we expect going forward? biz.yahoo.com If revolving debt starts going up, I would suggest that the train is closer to the wreck.

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