Home-price drop key to reduced consumer spending October 30,2008

Submitted by lusk-admin on Tue, 07/10/2012 - 16:56

...A new USC/UCLA study shows that rising home values has more of an effect on consumer spending than increases in financial wealth.
Those are the findings of research released jointly by the USC Lusk Center for Real Estate and UCLA's Ziman Center for Real Estate. The study cited surveys showing that from 2001-03, lenders provided $174 billion to $300 billion a year in cash to homeowners tapping rising home equity...