But in any event, equity in your house isn't money - it only becomes money when you use it to collateralise a loan.
I think that was my point in the first place :)
However, I'd been predicting the housing crash for at least four years, so I think we could agree that my punditry skills aren't quite tight enough to speculate with the roof over my children's heads. ;)
Well, maybe a hedge with a charging point and wifi. Or double chocolate ice cream.
When I was a kid we had to walk across the house to answer the telephone.
Barefoot.
In the snow.
Uphill, both ways.
Well, presumably it would have been monetised by selling it, because the other dude would have had to take out a mortgage on the full value (unless he had some cash stashed aside for some reason) :-P
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
