Mortgage Equity Withdrawal (MEW)

RECENT NEWS
Forbes  Jun 15  Comment 
With the recent news of the Poké Ball Plus controller for the Switch coming packaged with Mew for Pokémon: Let’s Go, it seems that this will come with a catch for Pokémon GO users.
Forbes  Jun 13  Comment 
Following the big reveal a few weeks back, we knew that Nintendo had more surprises in store for the new Poké Ball Plus controller for 'Pokémon: Let’s Go'. Well, now we know the controller will come with the Mythical Pokémon Mew for the game.
TechCrunch  Apr 24  Comment 
There is concern, tears and lost money in the world of crypto once again after MyEtherWallet (MEW), one of the most popular wallets on the internet, was hit by a DNS hack that saw some users lose their cryptocurrency. MEW said in a statement that...
TechCrunch  Feb 9  Comment 
 There’s controversy in the crypto community after one of the founders of a prominent wallet service for storing and sending cryptocurrencies abruptly announced a rival venture. Taylor Monahan, who start MyEtherWallet.com (MEW) with Kosala...
Forbes  Jul 17  Comment 
Gotta catch 'em all. Not most, mind you. All. As more and more players move into the Pokémon GO endgame, there's a question that's going to keep coming up. Our monsters are high enough to fight at gyms and our Pokédexes are filling up, but...
Cellular News  Jun 9  Comment 
Cable and Wireless Communications (CWC) has named Perley McBride as its mew Chief Financial Officer. Click here for more.
Clusterstock  Mar 10  Comment 
The following data is calculated from the Fed's Flow of Funds data (released last week) and the BEA supplement data on single family structure investment. This is an aggregate number, and is a combination of homeowners extracting equity - hence...
StreetInsider.com  Feb 24  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Management+Changes/Genetic+Technologies+%28GENE%29+Acting+CEO+Tom+Howitt+Steps+Down+as+Alison+Mew+Returns/9206245.html for the full story.
The Economic Times  Dec 18  Comment 
"Outlook on Kalindee Rail to depend on mew govt's policies."
StreetInsider.com  Dec 10  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Management+Changes/Genetic+Technologies+%28GENE%29+Names+Alison+Mew+as+CEO/7934802.html for the full story.




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Mortgage Equity Withdrawals, also referred to as Home Equity Extraction, measures the value that homeowners are pulling out of their homes via home equity loans. Homeowners with equity in their homes - IE, whose homes are worth more than they owe in mortgages - are sometimes able to get additional loans from the bank using their equity in the home as collateral. This reduces the homeowner's equity (or ownership in the property), but increases his or her available cash. From 2000-2006, the cash homeowners removed from their homes was an increasingly important component of GDP (see chart below right). However, as housing prices began to slow their ascent, MEWs dropped precipitously in late 2007 and early 2008.

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Chart prepared by frontlinethoughts.com on using methodology originally developed by Alan Greenspan and James Kennedy at the Federal Reserve show what a critical part of GDP growth mortgage equity withdrawals were from 2000 - 2006.
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Chart prepared by Alan Greenspan and James Kennedy at the Federal Reserve in 2005 shows the dramatic increase in mortgage equity withdrawals from 2000 - 2005....
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....which then drop after 2005 with the softening real estate market (source: Jim Kennedy at the Federal Reserve, update via http://www.frontlinethoughts.com/pdf/mwo101708.pdf

Economists track mortgage equity withdrawals because the cash homeowners extract from their homes was believed to be an important driver of consumer spending and consumer confidence from 2001 - 2008.

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