Reuters
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Is walking away helping consumer spending?
Jun 13, 2008Here’s an interesting thought: walking away from your unaffordable mortgage might actually prop up consumer spending. At least, that’s the conclusion of Tom Lee, chief U.S. equity strategist at JPMorgan Securities. Via Reuters: “In a perverse way, people who are leaving homes are actually helping the consumer spending picture,” Lee told the Reuters Investment Outlook Summit on New York.
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