Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.
“Half a century ago, the amazing courage of Rosa Parks, the visionary leadership of Martin Luther King, and the inspirational actions of the civil rights movement led politicians to write equality into the law and make real the promise of America for all her citizens.”
“The world is full of a lot of fear and a lot of negativity, and a lot of judgment. I just think people need to start shifting into joy and happiness. As corny as it sounds, we need to make a shift.”