end of the line for the speculative mania, page-54

"Nearly 40% of all mortgages processed in March were from investors."

"According to AFG’s latest Mortgage Index, two out of every five (39.6%) new home loans last month were for investors. This equated to a total of 3,384 loans with an overall value of $1.6 billion."

"In case you not only have a problem with maths but also with reading charts:

100%(total loans)-40%(investor loans)=60%(non-investor loans)"

"18% refinance + 40% investment + 42% owner occupier" = 100% loans."

investment+owner occupier = new demand
refinance = existing demand/no new demand only refinance

And that was the last of this very basic, bordering on primitive discussion.

Bye.