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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: UncleBigs who wrote (59124)4/25/2006 3:52:41 PM
From: sea_biscuit  Read Replies (3) of 110194
 
Here is my situation. I own a house (or more precisely, owe money to the bank!). The equity is probably 20 to 30 percent (SF Bay area). I expect all of the equity to evaporate in the event of a steep recession, plus maybe another 10 percent on top of that. i.e. I think it would be a haircut of 30 to 40 percent.

Now, without having to sell my house, I want to come out, in the worst case, owing nothing to the bank. Towards that end, I want to set aside some 7 to 9 percent of present value of the house in GLD/CEF etc.

Does this look OK? Do you have any other suggestions for me to consider?
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