This is pretty cool! I have always been against people using their homes as piggy banks and piggy banks using people as forever debt slaves because of that... purely evil vicious cycle... The main costs of owning homes are due to regulation, we should eliminate those too! Maybe put those permits, deeds, and bureacratic crap on a blockchain and get rid of the abundant blood sucking intermediaries who make no sense in today's world. I can't wait for that to happen, it will happen eventually because the advantages are too many. Regards Task
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Yes it is a rather stupid way to do things, using the home equity to buy cars, boats, and trips yet this is how Americans are conditioned to think. The marketers on Madison Avenue are experts are leveraging the entitlement mindset of people. "You deserve it after all".
The American Dream is debt up to their eyeballs.