Another Housing Bubble


  • Guess it would be fair to say that I'm always on the lookout for debt statistics. This week I saw one from the "Credit Union Trends Report". The report said that "Credit union mortgage loan balances increased more than 8% in 2015, the fastest increase since 2008."

     

    What does that mean? It probably means that as home prices rebound people are starting to borrow that money out just like they did prior to 2008. It's tempting to borrow against your home to pay for a new car or to pay down a credit card balance.

     

    While I'm not predicting another housing bubble, it would be better if people let the equity in their homes build. We don't know when, but there will be a housing correction sometime. You don't want to owe more on your home than it's worth.

     

    If you feel like debt is becoming a problem for you, I'd suggest that you subscribe to our free Surviving Tough Times newsletter. Each issue will show you ways to reduce expenses and also give you tools to take control of your finances.

     

    Keep on Stretching those Dollars!
    Gary


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