- Jul 29, 2014
- 22,047
- 23,183
Lets face it, the gov. is simply providing most people a huge bilge pump that keeps pumping water out of a vessel that needs a hull repair(responsibility/saving/investing)...most of those that can't swim keep making their way past the lifeboats(savings and investing) to the aft forcing more water in the opening and straining the pump to the point of failure. When she gives out down goes the ship(economy/housing market/property values)...those standing on the bow and able to swim to the life boats will then collect all of their devalued flotsam and begin to pad their bounty....Yes mortgage rates are awesome for those who understand how to use them like you just did. but the problem is and always will be those who are constantly re-fying to a higher number to take cash out and spend it stupidly. Or those who think every tick down in mortgage rates means they can go up another 10K in purchase price.
Wash, rinse.....repeat.