Sources and Uses of Equity Extracted from Homes

Abstract:     
In this paper, we present estimates of the disposition of the free cash generated by home equity extraction to finance consumer spending, outlays for home improvements, debt repayment, acquisition of assets, and other uses. We estimate free cash as cash available net of closing costs and repayment of other mortgage debt. We also have extended the quarterly data series for gross equity extraction, presented in our earlier paper, back to 1968.

Number of Pages in PDF File: 49

Keywords: macroeconomics, personal consumption, home equity extraction

JEL Classification: E21, G21

working papers series