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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (21888)	1/20/2005 9:51:15 PM
From: orkrious	Read Replies (2) \| Respond to of 116555

How many? I would guess 1/2 of the people I know, and I live in one of the most affluent counties in the country. I know a lot of "wealthy" people (they look wealthy with their big houses and big cars) and many of them have bought second homes in florida with mortgages (they talk about how low the interest rate is on their ARMs) and they talk about how much their RE has appreciated. Of the more "middle class" people I know, most of them have extracted equity from their homes and they have encouraged their kids to buy real estate, the "guaranteed" investment in today's world. Country-wide, it's a huge number. it wouldn't surprise me if more than 1/3 of the home "owning" population has either extracted some equity or bought real estate since 9/11.