>>Home equity extraction may be the household sector's realization of the benefit of a rapidly evolving financial intermediation system.<<<
Augioboo, Isn't that the craziest thing you ever heard. A guy called in the talk radio show today and asked if he should pay off his high interest mortgage with 9 years till retirement. Guy owed $65,000 on his house. The radio "expert" told him to get a ten year mortgage and invest the money in the stock market instead of doing the payoff. When the caller said his investments had done poorly the last three years the pee-brain "expert" replied that he had to look at the last 10 year returns and that money put in the market now would be well invested. The guy is 9 years from retirement and he is advised to put the money all in the market??? Another host is telling his callers to borrow 100% on their homes and to buy more real estate. None of these guys are considering that the elements that gave us 20 years of economic expansion may also reward us with 20 years of contraction.
Just a thought, Green spam is an idiot! Write that on a piece of paper and I'll sign it!
Joe
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