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

To: Mike Johnston who wrote (51798)	1/27/2006 5:09:51 PM
From: Bonefish	Read Replies (1) \| Respond to of 110194

RE:"There is nothing normal about housing prices tripling while average income goes up 15-20%." People who have benefited from the runup WANT to believe it's normal. It's stroked their ego. They revel in the idea that they were smart and the people who rented from them are not so smart. They will swear that anyone can live the American dream.

To: Mike Johnston who wrote (51798)	1/27/2006 5:18:33 PM
From: GraceZ	Read Replies (1) \| Respond to of 110194

Price goes all over Hell and back to discover the truth. Do you really believe that people can get rich by selling houses between each other ? Now you are doing it again, saying stupid stuff and attributing it to me. It is you who is saying this is how people are getting rich. I'm claiming that houses are sucking up wealth which is the exact opposite.

To: Mike Johnston who wrote (51798)	1/27/2006 5:28:11 PM
From: Marc Hyman	Read Replies (1) \| Respond to of 110194

And big chunk of population is struggling, increasing their debt load instead of paying it off. Stats, please. I've no doubt that there are plenty of people who are or soon will be in trouble, but want numbers instead of "a big chunk" or "lots", etc. * What percentage of homeowners either purchased a home or re-financed a home in the last two or three years? * What percentage of the above extracted equity? * What percentage of those who extracted equity didn't plow the funds back into their primary residence by way of remodeling or other improvements? * What percentage of the remaining used ARMs, interest only, etc. as there was no other way they could afford the loan? Those are the people in big trouble. I haven't a clue as to the number, though. // marc