Quote:
Originally Posted by joey2665
OK that’s fine it’s not New Hampshire it’s all over the country but you show me where you found the statistics that say most people are cashing out the equity in their primary residence to buy vacation homes for cash. I just don’t think it’s true. honestly I think it’s nonsense.
And we could all speculate on whether they’ll be a recession or a large correction and the prices of real estate will plummet none of us knows for sure and as we seen recently the government and businesses alike including banks will do everything they can to try to avoid going into an extended term recession.
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I'm sorry I can't give you statistical proof. I get my information from my best friends son who is one of the top 50 residential mortgage brokers in the country, he works through Leader Bank in Needham Ma. He tells me where the money is going and I believe him.