Quote:
Originally Posted by molenick
Okay, I hear that. The value of my house went up as well, but that didn't affect my spending. I guess in theory I could have taken out a home equity loan to buy cards or bought cards using my credit card. I didn't, but maybe others did.
|
That's not what happened. Basically, a lot of big money investors saw the card market as an opportunity to manipulate things and cash in. This led to other big money investors coming in. HELOCs aren't driving the purchase of Jordan rookies - fake purchases at $800k (or whatever those two were) are. And so on.