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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (51381)	4/4/2006 2:56:18 PM
From: GraceZ	Read Replies (2) \| Respond to of 306849

How would that be any different from selling your house and taking the next three years to spend it all on one long party, essentially eating your house and impoverishing yourself in the process? I guess what gets people thinking in this direction is that there is this paper gain in their house and they can't get their hands on it without borrowing it or selling. The fact is they aren't any richer than they were before because the money in their house will not buy any more house than what they already have. I guess if someone ONLY had equity from inflation in their house, instead of the hard won equity you put in there from paying down the balance year after year and doing your own improvements, it might be tempting to try to get your hands on it. It doesn't tempt me in the slightest because I have a lot more in my house than just money, it is my home.