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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (6194)	2/14/2002 8:58:18 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 13815

the more people take out their home equity, the more likely they will walk away later when property turns down I dont expect a horrible decline just a routine mini-decline of 10% minimum real estate is one bubble virtually untouched it is backed by a surefire hard asset but its value is unduly influenced by yet more "paper" i.e. mortgage with 11.7% late loans with FHA already, it has begun FannyMae is in trouble I dont see any way it wont get ugly just not as incredibly ugly as say, Clinton's Noodle Kidoodle or Gore's Belly or Hillary stepping out of the shower / Jim