[lbo-talk] auto sales crater

[dredmond at efn.org]

On Thu, October 2, 2008 10:24 am, Carrol Cox wrote:


>> Jordan:
>>
>> Also: don't believe the hype.  Still plenty of people eligible for and
>> taking HELCs.
>> ..............
>
> What does the acronym HELC stand for?

Home equity line of credit. Basically, turning the theoretical value of
your home into an ATM machine for instant consumption, which is crazy.
Houses are a form of demand, not investment.

-- DRR