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U.S. Households Are Cashing In on Equity

  • Borrowing against residential properties highest since 2008
  • Data from Federal Housing Finance Agency illustrate trend
Las Vegas Housing

Photographer: Jacob Kepler/Bloomberg

The home ATM is spewing cash thanks to rising property values and record household wealth.

Equity pulled from homes to finance consumer spending and property improvements and pay off other debts rose in the first quarter to the highest in almost a decade, according to Federal Housing Finance Agency data.