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

To: mishedlo who wrote (49006)	1/8/2006 1:19:07 AM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

Mish so many have milked the system for all it's worth so they have little to no equity to lose by a housing crash in CA. Then you also have a huge segment of long term older owners who bought decades ago and don't even have a mortgage anymore so don't care about up and down moves as it's their home for the long term. What is left are owners that are actually paying down a mortgage and have built up a decent chunk of equity and others who rolled much of their winnings into investment property and lose it all on a downturn. Question is what percentage of homeowners is that in CA? 20%? 60%?