NY Fed President Wants Consumers to Tap Home Equity: Didn’t We Try That Before?

Mish Talk ^ | 14 August 2017 | Mike “Mish” Shedlock

[mewzilla]

Not only that, but if you get a home equity loan to actually improve your home, you get screwed when your property taxes get jacked up.

Advice to Fed guy: Go urinate up a rope.

[Redmen4ever]

The economy is doing fine. The problems we have are [1] reforming the tax code, [2] reforming health insurance, and [3] shifting part of education to vocational education. Consumer confidence is in very good shape. Its’s good - not bad - that there’s some movement to de-leverage.

[GailA]

Yep, way to go, we paid off the house 2 months ago, 11 yrs earlier than our VA 15 yr mortgage, but it dropped our credit score 15 pts. Since it was the highest you can get no issue. Saving that money for a new mid size SUV now. Will sell my old plain Jane Corolla to my youngest son, as trade in is to low, but his van is junk. With a new baby he needs reliable transportation to work. No guessing if you got a decent 1 off a high $$ used car lot either. And I’ll put the money away for my new grand daughter’s education.