That’s the news from the New York Times a few days ago. ““People have literally picked up their house at the foundations and shook it upside down like a piggy bank,” said Ed Smith, chief executive of the Plaza Financial Group, a mortgage brokerage firm in La Mesa, Calif., near San Diego.” According to NYT’s November 3 article, many people, during the housing bubble, and continuing, have not only taken out loans on the equity in their homes, and spent that money, but also negotiated lower house payments, and spent that money, as well. Now, I understand that investing your home equity can be a good way to grow your wealth. But to squander it…it’s unimaginable to me, that people would borrow against their homes and blow the money, as if it came from the sky. But according to the Times of New York, that’s exactly what’s been happening. Fortunately, I wasn’t in the position to make a decision like that, but I hope I would have made the right decision.