Quote:
Originally Posted by White Doors
Agreed. Housing prices aren't going anywhere but up. The trnd up may moderate, but they won't go cheaper. Not here. Real Estate is one of your best bets for an investment, afterall, they aren't making anymore of it. All I was saying is that it's not 'free money'.
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Real estate is a great way to invest, but sadly HELOCs are mostly spent on new vehicles, vacations and other luxuries. People keep living in the same houses, have the same jobs etc, but were just preapproved for an interest only, 6 figure loan. They will spend money they don't have and that's never good. You and I agree on this, but a lot of people miss the point that they will have to pay it off at some point. Oh well, not my money :-)