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Harder to borrow for luxuries with declining market
Posted by Jeff B [Email] (more from Jeff B) on Fri, 15 Dec 2006 12:38:42
In Reply to: Economics question -- housing market, vvk, Fri, 15 Dec 2006 12:17:00
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Many people are stretched pretty thin with basics like a mortgage payment, groceries, food and utilities and don't have very much true discretionary income. With a declining housing market, home values aren't appreciating as in the recent past, which means you can't borrow against a line of credit as easily to go further into debt for luxury items would be my guess.
With a feeling of less certainty that you will be able to pay off debt when you sell your house, you may be less likely to tap a credit card or home equity line of credit to buy that 60" plasma TV.
posted by 128.190.22...
Posts in this Thread:
- Economics question -- housing market, vvk, Fri, 15 Dec 2006 12:17:00
- Thanks for answers (+), vvk, Mon, 18 Dec 2006 09:37:43
- Its an equity thing, DivrDon , Fri, 15 Dec 2006 16:00:46
- Re: Economics question -- housing market, ursaw, Fri, 15 Dec 2006 15:20:13
- When house values are high, people feel rich, Dave in Houston, Fri, 15 Dec 2006 13:05:28
- Harder to borrow for luxuries with declining market, Jeff B, Fri, 15 Dec 2006 12:38:42 <-- Viewing This Message
- I am NOT an economist..., PGAero , Fri, 15 Dec 2006 12:36:53
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