Consumerism of the 2000's

Some interesting statistics that just underscore the culture of consumption, excess and debt that we currently live in:

2000 - Americans too $26 billion in equity out of their homes

2004 - Equity withdrawn rose to $139 billion

2005 - Equity withdrawn rose to $450 billion

2006 - Equity withdrawn rose to $620 billion

Roughly 42% of the equity withdrawn went towards consumer spending or paying off credit card/consumer debt! Food for though...

Deanna Koffler, Nine36 Financial (936 Financial)