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

To: ChanceIs who wrote (59630)	8/10/2006 12:38:24 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

Great article today on the financial sense site by Puplava with tons of great graphs. financialsense.com 'The following excerpt sums it up nicely: “One of the sources for rising consumer debt has come from home-owners taking out home equity lines of credit (HELOC) to extract equity from their home. The increase in home equity extraction has lead to a negative U.S. consumer saving’s rate, with lower-income homeowners seeing the largest decline in their savings rate over the past couple of years. Renters currently have a 3% savings rate, homeowners with no HELOC have a 0% savings rate, and homeowners with a HELOC have a NEGATIVE 16% savings rate.” So much for the theory that renters are the fools and that the specuvestors and Homeowners that used their houses as ATM’s are prudent savers'