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"Home ATM" is Closing

Mortgage Equity Withdrawal (MEW) Declines in Q4

CalculatedRisk by Bill McBride's avatar
CalculatedRisk by Bill McBride
Mar 09, 2023
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During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. Note: Very few homeowners have negative equity now - unlike during the housing…

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