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- Homeowners' equity is the highest it's been in 25 years, which could provide a cushion as consumer savings dwindle.
- Wells Fargo economists say that huge price appreciation means homeowners have a lifeline they can tap.
- Soaring home prices looks like an "underappreciated tailwind" for consumers, they said.
Decades of rising home values have created an expensive and competitive housing market — but that may be exactly what's keeps consumers afloat as household savings dwindle and borrowing costs climb.