The Home ATM Is Back: U.S. Households Cashing in on Equity

Walt Alexander · May 25, 2018

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published May 24, 2018, 10:32:36 AM, by Alex Tanzi
(Bloomberg) —
The home ATM is spewing cash thanks to rising property values and record household wealth.

Equity pulled from homes to finance consumer spending and property improvements and pay off other debts rose in the first quarter to the highest in almost a decade, according to Federal Housing Finance Agency data.

Home values have been rising more rapidly than mortgage debt on a consistently basis since the second quarter of 2011 allowing home owners to use their homes as personal banks.

To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net To contact the editors responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net Vincent Del Giudice
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The Author

Walt Alexander

Walt Alexander is the editor-in-chief of Men of Value. Learn more about his vision for the online magazine for American men with the American values—faith, family & freedom—in his Welcome from the Editor.