Quote:
Originally Posted by flamesfever
It's true that our housing bubble, and the vulnerable equity that comes with it, can make people feel richer than they really are, and end up borrowing more against the equity in their home.
|
The thought of "*poof* equity is gone!" is probably pretty scary for some people. When I moved into my place I had to take a LOC for a new roof as every penny I had went down so I didn't have to pay CMHC. I didn't sleep right until it was paid off. I hate owing people money. I could never be one of those guys who borrows a ton of cash to invest, or to start a business.... which is why I'll never be rich.