Is Housing Wealth An 'ATM'? the Relationship Between Household Wealth, Home Equity withdrawal, and Saving Rates »
Series: IMF Working Papers
Author(s): Vladimir Klyuev , and Paul Mills
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2006
Keywords: Household Saving, Home Equity Withdrawal, Housing Finance, mortgage, home equity, mortgages, disposable income, real interest rate, Housing Saving,
This paper examines the role increasing personal wealth and home equity withdrawal (HEW) have had in the decline in the personal saving rate in the United States. It does so by comparing the U.S. experience with th...