The following is an excerpt from an April 21 story at CNNMoney.com. William Miles, associate professor of economics at Wichita State University, contributed to the article.

Where's the wealth effect?
Apr 21, 2011 12:00 AM | Print
Share

Before the collapse of the housing market in 2008, homeowners, particularly younger ones, commonly borrowed against their houses and spent the extra cash. But the idea of homeownership as an investment vehicle has been eroding, as millions find themselves stuck with mortgages worth more than the value of their homes.

"There's a question going forward if people are going to treat houses like piggy banks again," says William Miles, economics professor at Wichita State University, who studied the wealth effect. "It is perhaps questionable we will see as large a housing effect than in the past."

Read full story.

Created on Apr 21, 2011 12:00 AM; Last modified on Apr 21, 2011 2:01 PM
#
HEADLINES RSS Feed
Golf course to close at Wichita State
WSU expansion will support job growth, innovation
New ballistics lab started by Wichita State's NIAR
WSU School of Nursing one of 100 schools chosen
STEMpact2020 gets coordinator
Claycomb named as WSU Ventures director
WSU students study, perform opera in Italy
Health care conference co-sponsored by WSU
WSU professor to present research on racial profiling
Wichita Transit to make on-campus stops
Bibb makes Health Professions her new home
New go-to-resource available for WSU students
Wichita State police lend helping hand
WSU School of Nursing benefits from grant
Permits to be required to park on main campus
© 1995-2014 Wichita State University. All rights reserved.
Valid HTML 401