We Americans are borrower against home equity at a pace not seen since 2007.
Check out the chart below. Our home equity borrowing has already returned to Pre-recession levels.
Is this a predictive model of history repeating itself? Perhaps. Finances tend to run in cycles.
Is this simply a surge due to stagnancy in preceding years? Perhaps. From 2009-2012, many folks laid low and put those moving/building plans on hold. Now the storm has subsidized and we are ready for bigger houses, swimming pools and those postponed vacations.
There is no denying that we Americans as a whole... are dropping cheddar like its hot. Keeping up with the Jones appears more important than ever before.
