Questioning Logic

The FAS 157 Accounting Standard and Marking to Market

I am sure there are a number of homeowners that agree with your way of thinking Jeff. "I bought my house for $700,000 two years ago but no one is willing to buy my house now except for the guy that offered me $250,000. I am going to ignore that bid and continue to believe my house is worth $700,000. I am really looking forward to receiving approval on my 5th home equity loan!!!!"