For Q3 2008, Net Equity Extraction as minus $64.1 billion, or negative 2.4% of Disposable Personal Income (DPI). This graph shows the net equity extraction, or mortgage equity withdrawal (MEW):
The second graph shows "active MEW". This is defined as "Gross cash out" plus the change in the balance of "Home equity loans".
This suggests that the Home ATM is closed, and MEW is no longer supporting consumption.
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