[Porsche-O-Phile]

With all this talk about RE, the RE collapse, the unaffordability of housing, loss of value, etc. I have to ask the more experienced individuals here - under what circumstances WOULD you pull equity out of a house or other RE investment?

It seems to me one of the biggest problems we've seen in the last few years is people using their homes as ATMs. This is particularly bad when the people have little or no real equity in the properties they're borrowing against.

So I'm just curious - what purposes do you all consider "acceptable" to borrow against (if any) and which not?