04/04/2017

Housing Bubble 2.0: Homeowners Tapping Into Equity At Fastest Rate In 8 Years

Andrew Moran, Economic Collapse News

Do you want another sign that the housing bubble is 2006 all over again? Here is one: homeowners are tapping into their equity at the fastest rate in eight years.

Thanks to the printing press at the Federal Reserve, home prices are surging, and this is providing homeowners with immense equity. In 2016, homeowners garnered a collective $570 billion, and nearly 40 million now have tappable equity.

Homeowners, particularly millennials, are tapping into that equity, says a new report from CNBC.

Ostensibly, the report says, home equity lines of credit (HELOC), which are second loans outside of the main mortgage, are becoming a popular tool for so many homeowners. And millennials are utilizing HELOCs more than Baby Boomers or Generation Xers. A recent TD Bank survey found that one-third of millennial homeowners are considering applying for a HELOC within the next 18 months, which is double that of Gen Xers and nine times that of Baby Boomers.

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Keynesian Economics and the Great Depression

Hillsdale College economics professor Gary Wolfram discusses Keynesian economics and the factors that pulled the national economy out of the Great Depression. The story of World War II shows that government spending may produce activity, but not the prosperity of a truly healthy economy.

 

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Shadow Stats Snapshot


ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    BLS: 4.5%
    Shadow Stats: 22.5%
  • Inflation:
    March Year-to-Year: 2.38% (CPI-U*)
    Shadow Stats: 10.1%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]