I can see using a Heloc to purchase a car. It’s purchase you would make anyway so you might as well get a tax deduction.
But why would you spend money you don’t have. People shouldn’t do kitchen remodels on credit if there’s not cash to back it up. It’s not something that is necessary you she should’ve saved the money for it.
But credit is how most business and household operates.
Nightly Business Report had an interview of the Office Depot CEO (stock is down 60%) who said that small businesses have no money to spend. Small business owners were funding operation using equity withdrawals.
The reductions in Heloc will remove untold billions from the economy.
