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

To: ild who wrote (45550)	11/15/2005 1:04:59 PM
From: John Vosilla	Respond to of 110194

So true. It's already started happening in many midwest markets where folks were never bailed out by appreciation and couldn't borrow more money against the equity in their homes even though credit has been loose. The shit really hits the fan when you have very tight credit, an illiquid market and a fall in prices.. I read some studies that the average cash out per homeowner per year works out to $20K in the GWB era as compared to just $3k in the 1990's. If you take out the older crowd and flyover country RE my guess is a large percentage of folks say under 45-50 years old in the bubble markets have been taking out an average of $30-40k per yr since 2001.