The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (23433)	8/23/2004 10:32:38 AM
From: Les H	of 306849

Home equity withdrawal now 8% of income One of the Bank's main concerns is the soaring level of mortgage equity withdrawal (MEW) and its impact on consumer spending and the wider economy. MEW has risen dramatically, from £600m in the first quarter of 1999 to an all-time high of £17.5bn in the final quarter of 2003. MEW now accounts for more than 8 per cent of post-tax income. news.independent.co.uk

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