Chart of the Week: Home Equity Cash Outs

Monday, November 28, 2005 | 12:17 PM

Our discussion of Credit Card usage leads us review this: Since 2000, American households have spent more than they earned - a shift from the prior 3 decades. Q3 2005 household spending was a record $531 billion more than their after-tax earnings (annualized). Consumer spending was 76% of Q3 GDP - a record high, up from 73% in 2000.

Home Equity Cash Outs; Bank Mortgage assets as a % of total assets

Cahs_out_refis


Source: NYT

Residential real estate is a record 204 percent of disposable personal income, compared with 150 percent in 2000.

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Quote of the Day: 

“If all the economists in the world were laid end to end they still wouldn’t reach a conclusion.”
- George Bernard Shaw

Monday, November 28, 2005 | 12:17 PM | Permalink | Comments (7) | TrackBack (0)
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Comments

Oh well, they can all sell their expensive homes and move down or out. But who will they sell them to? I guess the Fed will just have to continue blowing.

Posted by: Lord | Nov 28, 2005 12:47:22 PM

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