Tuesday, May 17, 2005

Home Equity Loans Touted At Yahoo

From obscurity to neccessity, home equity loans become a prime source of funds, says Yahoo.

5 Comments:

At 7:55 AM, Blogger John Law said...

BEN- they are talking about where to buy RE in Phoenix on power lunch today on CNBC. heads up.

 
At 8:38 AM, Anonymous Anonymous said...

See today's WSJ front page article:

Lagging Behind the Wealthy,
Many Use Debt to Catch Up
U.S. Borrowing Hits Record;
Soul-Searching in Utah
As Bankruptcies Surge

..snip..

Twice he used a home-equity loan to pay off his credit-card debts, and twice he ran up steep credit-card bills again. When his debts reached $30,000 and he ran out of home equity, he filed for bankruptcy in 2003. "We came to rely on credit as part of our income, even though it wasn't part of our income," says Mr. Baggett. "I looked at $1,000 on my credit card as disposable income." He now works at a foreign-exchange broker, and has sold his house and divorced.

More and more Americans are turning to debt to pay for lifestyles their current incomes can't support...

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We're living in a culture of debt. Sooner or later it will collapse, IMHO. Cash is King...and in deflation its an appreciating asset.

..DenverKen

 
At 9:14 AM, Anonymous boulderbo said...

denverken,

any thoughts on how the denver market will play out. we're flat over the last four years. will we hold our own or will the coastal craze/crash bring us down.

 
At 10:04 AM, Anonymous Anonymous said...

boulderbo...

Denver has a history of running counter to national RE trends...but, this time I think the debt bubble popping will bring down RE everywhere in the country.

After owning various homes for 31 years I sold out and decided to rent last summer. Rents are about 40% of the cost of buying something similar right now.

if you'd care to email about it I'm at

kam99mailbox-trader@yahoo.com

..DenverKen

 
At 10:23 AM, Anonymous Anonymous said...

There is a housing bubble, but I still think that we have a much bigger credit bubble. The mother of all bubbles. When credit dries up, all bubbles will burst.

 

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