Home equity withdrawals fall

U.S. homeowners withdrew about $840 billion per year from their homes between 2004 and 2006, according economist James Kennedy and former Fed chairman Alan Greenspan. In the first half of this year, equity withdrawals fell 15 percent compared to the past three years. And this summer, withdrawals dropped even more, according to Mark Zandi, Moody’sEconomy.com chief economist. 

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