There is definitely a crowd that "sleeps better" knowing their properties are paid off or have low leverage.I think there is a happy place in between - one that lets you take advantage of the growth leverage affords, but has enough equity and cash flow to protect against downside risks that recession brings.    

PART 2In 3 years we were in the middle of the recession and couldn't refi or sell for what was owed. 

If/When the secondary market comes back, both them and originators will likely try and keep rates inflated as long as possible...It took several years after the 08/09 recession for enough companies to jump into the non-QM sector before rates really started to drive down into the 6s and 5s... 

White cabinets with recessed lights can really brighten up a dark kitchen and improve the perception of space.  

Should a global recession occur, tourism will take a hit, along with the ability of foreign tourists to buy thousands of dollars of luxury brand handbags, etc.2.

Lending guidelines exist for a reason.Please bear in mind that we're just now coming out of a very bad recession because the banks handed out loans to people that they really should not have in order to sell the bundled loans.  

There are numerous examples of conservatives taking full advantage and more of govt help and going against their strongly held "principles".The vast majority of people are simply demanding that the govt "make them whole" as a result of every flood or every crime or every terrorist attack or every recession or every slip on the sidewalk.

I got a really clever email from a friend and decided to turn it into a blog post.... as a community of entrepreneurs, I figured you'd all appreciate it:

How Dare You! How to Charge Your Friends for Calls, Emails, Te...

The talking heads on TV and the administration are telling us that the recession is over, even as the debt the government has caused is piling up higher than Mount Everest!

Granted, recess/gym during the warm months was from 10:00am until 3pm but if you like the sounds of kids playing then no worries.