Posted on 08/16/2017 8:17:57 PM PDT by Lorianne
Here’s one that came my way earlier today although the report was from January: New York Fed Chief Dudley has an Idea — Homeowners Should Tap Into Equity.
“New York Fed President William Dudley on Tuesday encouraged homeowners to find “prudent” ways to tap into the equity that has built up in the homes, saying the boost in consumption would be a welcome shot-in-the-arm to the economy.The shape of household finances was a hidden strength of the economy, he said.
“The good news is that, while the current expansion is quite old in chronological terms, it is still relatively young in terms of the health of household finances,” Dudley said in a speech to the National Retail Federation.
“Whatever the timing, a return to a reasonable pattern of home equity extraction would be a positive development for retailers, and would provide a boost to economic growth,” Dudley said.
Homeowners may have overlearned the lessons from the housing boom and bust, the New York Fed president said.
Even though home values have risen over 40% since 2012, housing debt has stayed virtually flat, he said.”
The deflation situation must be worse than they’re letting on.
No more Debt. I follow Dave Ramsey’s general rules and live below my means.
Who wants to be a debt slave?
The Fed needs to be shut-down immediately, or they will simply continue to strip Americans of their wealth to give it to bankers and oligarchs.
New York Fed President William Dudley can tap into his equity and spend pointlessly.
Household debt hasn’t risen, and that’s bad?
Yeah, he wants us to tap into our home equity so he can postpone the day he has to tap into his.
To Keynesians, debt makes the economy go.
Yes apparently so. Very very bad
Nonsense from this guy.
Tapping into your home’s equity is the exact opposite of prudent financial advice. This NY Fed President should be sued for every dime he owns giving advice like this. It is completely irresponsible.
I hope he added: “Only a small percentage will lose their homes.” He must be a DemoRat. Maybe William Devane in disguise.
Tap into equity? What’s really needed is boost in the heavy industry sector.
ObamaCare rates will jump 150% and William Dudley will say, “See! You should have done that equity miracle!”
well, gee, I’d love to ‘consume’, but, since there are less and less conglomerates that support conservative, Christian beliefs, until I’m ready to blow it all on my bucket list, I’ll keep my equity instead of giving it to the credit companies now. It’s my little way of ‘starving the beast’.
The way to get us to spend money is simply to let Trump MAGA.
All the Establishment’s fighting against him is just stalling the economy.
Tax cuts will give the economy a “shot in the arm” too without asking homeowners to risk their homes during market downturns.
Yeah - go into debt to spend more for those who want to leverage anything they can bleed from the Market...
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