This video is a new one on me: [Thanks to DocScience- this was too good to leave buried in the thread]
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Twist,
He’s another tune to sing. HELOC’s nothing but Schlock. I don’t know if this has gone national yet as the following article from today’s Denver Post is written locally. It’s implications to the economy are devastating but not suprising at all.
Home equity borrowers get iced out:
Countrywide has sent letters freezing existing lines where home values are down. More banks are set to follow suit.
http://www.denverpost.com/business/ci_8146374
I guess the Home as Piggy Bank era is over.
Also check calculatedrisk.blogspot.com … they had the story a couple of days ago, with a lot of analysis and comments from the regulars on the board.
The blog is on the left of the housingdoom page.
One click.
Good stuff.
I would much rather be a super-bull but I’m afraid I’m going in the woods with this one.
They did a very nice job on this and it’s accurate to the point of freightening!
Moin,
this video is also worth watching
Housing Bubble / Dave Girtsman
Enjoy