I just gotta wonder what all this HELOC reduction/freezing is gonna do to housing.
Dude, think of what its going to do to discretionary spending.
The problem is so many people believed the “RE never goes down” mantra that they thought there was little risk in splurging via a HELOC. Worst case is you have to sell the house, right? Think whats going to happen when folks realize they have to pay all that money back.
