House Price Gains and U.S. Household Spending from 2002 to 2006
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We examine the effect of rising U.S. house prices on borrowing and spending from 2002 to 2006. There is strong heterogeneity in the marginal propensity to borrow and spend. Households in low income zip codes aggressively liquefy home equity when house prices rise, and they increase spending
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美国国家经济研究局创建时间：
2014-05-01
