Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (21746)	6/19/2004 1:21:02 PM
From: J. P.	Read Replies (1) \| Respond to of 306849

Without the house money, this economy would be in deep doo doo. All the jobs and manufacturing are going away. What's left is selling stuff (built in Asia) to each other funded by flipping houses and cash out refi's. How else are you going to buy a big screen TV and a new Ford Explorer on a 40K salary, and no talent or ambition to go higher? Just run up the credit and when the cards/car payment get high enough, cover it with another cash out refi. But, it's worked for a while and it continues to work. What's next? Million dollar homes for McDonald's fry cooks? (Actually, my wife just incredulously told me that she was just at Culver's, a chicago hamburger chain, and overheard one of the cashiers talking about his lawyers going over the final paperwork for a closing)