“My parents have used Helocs several times to pay for scientology training. Yes, they are full on couch jumpers. They bought their place in North Van about 25 years ago.”
– midnight toker at VREAA 17 Jun 2012 2:45pm
People have dipped into the RE_ATM for all sorts of things they previously wouldn’t have been able to ‘afford’, increasing their leverage to the RE market as they do so.
This spending will come to an abrupt halt when prices stall and reverse course.