Posted on 08/10/2023 4:57:37 PM PDT by millenial4freedom
Our leaders really want Americams to own nothing and be happy.
Worst advice ever.
They want everyone to borrow on their homes so the banks can own them...
Of course!
Because all that Home Equity lending worked out so well 20 years ago!
And then what?
we are doomed...
Leveraging your home equity for cash in THIS economy is madness. Make do with less and just work at paying it off. Now!
Borrowing money. Selling off assets. The two things that raise red flags. Jeeze.
With these interest rates?
Wells Fargo is trying to get rid of this mortgage money no one wants.
The biggest real estate bubbles in the world are in the Anglosphere. Especially New Zealand, Australia and Canada. And debt levels in those countries are amongst the highest in the world. In Canada much of it with home equity loans.
New Zealand house prices are already down 10%. Australia house prices are down 5%.
Canadian house prices are still rising.
When this real estate boom ends, the hangover is going to be really bad. But the Regime wants as many people to go into as much debt as possible to goose the Econ for 2024.
Mortgage companies are very eager to take clients who are currently paying a low interest primary mortgage and sell them on high interest equity loans.
You will own nothing and be miserable.
These people push the average person to willingly make themselves poor through consumption.
Save your money, folks. Wealth is what you keep not what you make.
>> a potential whopper: home equity
I have a strong sense of deja vu.
Some ‘people’ or households will be. Don’t worry about the banks, I’m sure there will be a large inrush of cash to stabilize them.
Too big to fail, you know!
HELOCS will probably be used quite a bit in the coming months. But it will not be for spending sprees. It will be for money to make the insurance payments, property tax bill, groceries, utility payments, etc.
MSM and financial news sites are trying to dress up Bidenomics and make it sound as if the economy is doing great and everyone’s finances have never been better. Bidenomics is crushing the middle class. Read any comment board on discussions of the economy. Everyone is complaining except for the Biden-bots which are pre-programmed as to what comments to make.
M A R K E T I N G.....
Your second house is an asset, but your first house is your HOME. Pay it off, and do not refinance. I've seen too many get behind the debt eight-ball. And then a bad surprise can lurk quite close....
Living debt free is a remarkable thing, and highly to be wished for. We have been for years, and every day in the mail come the "offers."
"Use your home equity" means going in to debt, for some, and going DEEPER into debt for others. Don't do it! Period.
Oh, the homeless camps are going to get big.
Everyone sell any ownership in your house to buy fuel, food and Chinese crap.
Live high by hocking your house, right?
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