Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Elroy Jetson who wrote (12691)	10/4/2004 8:37:27 PM
From: GraceZ	Read Replies (1) of 116555

It's quite imaginative of you to suggest that the recent massive "Equity Extraction by Home Owners" has been caused by low interest rates. You need to read more closely, this is what I wrote: "the fact is that people have chosen for any number of reasons to assign a higher value to real estate while at the same time others have decided that RE lending has less inherent risk thus giving a large group of people access to low fixed or floating rate financing for any number of things, some of which are not current consumption. " How can that statement be seen as false? shows a precipitous increase only since 2001 to the current day. There's also a precipitous rise in real estate equity in total and a precipitous rise in the percentage of RE equity as represented in total household net worth.

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