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

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

Alex Tanzi

(Bloomberg) -- The home ATM is spewing cash thanks to rising property s 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 s 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.

©2018 Bloomberg L.P.

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