Sources and Uses of Equity Extracted from Homes
Federal Reserve Board - Division of Research and Statistics
James E. Kennedy
Federal Reserve Board - Macroeconomic Analysis Section
FEDS Working Paper No. 2007-20
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, G21working papers series
Date posted: July 12, 2007
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