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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: valueminded who wrote (63128)	6/24/1999 10:31:00 AM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Chris, You are behind the curve. 125% mortgages are now de rigeur. Trading up certainly has some bearing on the lack of home equity, though we have had many powerful housing markets in the past and have never dropped this low before. Corporations and the consumer do not have the resources to pay off their debt. Which is why they will borrow more. It is like Brazil, borrowing more to pay the interest. As long as suckers are lending, the beat goes on.