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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: patron_anejo_por_favor who wrote (47353)12/14/2005 10:32:11 PM
From: gregor  Read Replies (1) of 110194
 
Consumers don't have to go to the pawn shop. Those with home equity lines just draw out some equity from their homes when they need the cash, thus pawning their future. Home prices have risen so what's the problem.

I have a friend who bought a house 5 years ago. He owes 75 thousand more on his loan than when he originally bought. The house has increased in value 125 thousand and he thinks he is rich. He refinanced at a lower rate and has consistently spent 15 thousand more a year than what he makes, his attitude, so what!
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