A trio of economists says the much-touted housing-wealth effect - the impact that home value has...

|By:, SA News Editor

A trio of economists says the much-touted housing-wealth effect - the impact that home value has on consumer spending - is widely misunderstood. It's not about feeling less wealthy, or even the downfall of home-as-ATM, but rather that home-price changes are a proxy for people's income expectations.