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Re: Joe Stocks post# 391764

Sunday, 05/15/2005 1:29:10 PM

Sunday, May 15, 2005 1:29:10 PM

Post# of 704044
Two interesting statistics from Bill Fleckenstein.

1.) In 2001 only 2% of new mortgages in California were Interest-Only. In 2004 this rose to 49%.

2.) In 2004 proceeds from Cash-out refinancing, and Home-equity line-of-credit, accounted for 77% of total U.S. consumption.

http://www.siliconinvestor.com/readmsg.aspx?msgid=21323364

Dan

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