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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (40665)	9/1/2005 7:52:37 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 110194

>>While it is true that home equity may be an asset to an individual homeowner, its existence in no way adds to society‘s stock of savings<< ...as rather stunningly demonstrated in New Orleans this week! I know several people personally who had the bulk of their net worth tied up in New Orleans residences and rental properties. They are (to use the words of one) "ruined". It is simply an asset, and a depreciating one at that in many cases...like a set of baseball cards, or a vintage '57 chevy.