ents: 41 Reads: 6,603 Tyler Durden’s picture Home Equity Loans Spike As Americans Scramble For Cash
by Tyler Durden
ZeroHedge.com
05/31/2014
With real incomes stagnant and the cost of everything from food, school tuition and healthcare premiums skyrocketing for millions of Americans, it appears that borrowing against one’s home is once again a key source for consumption, if not survival, for the nearly extinct socio-economic demographic known as the middle-class. The Wall Street Journal reported yesterday that home-equity lines of credit (Helocs) had increased at a 8% rate year-over-year in 1Q14…The new American Dream.
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