Survey on Housing Equity Withdrawal and Injection

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چکیده

Over the past few years, household borrowing against the stock of housing has increased by more than household spending on new housing and renovations. As a result, the household sector has effectively extracted equity from the housing stock, though the net amount withdrawn has recently been declining. The signifi cant equity withdrawal over 2001 to 2004 stands in contrast to experience in previous decades when households, in aggregate, built up their equity in the housing stock, by using income or assets to fi nance some of their spending on new housing and renovations. This change from households injecting equity to withdrawing equity coincided with strong consumption growth and a decline in the household saving rate.

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تاریخ انتشار 2005