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- Title
Sources and uses of equity extracted from homes.
- Authors
Greenspan, Alan; Kennedy, James
- 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 have also extended the quarterly data series for gross equity extraction, presented in our earlier paper (Greenspan and Kennedy, 2005), back to 1968.
- Subjects
CONSUMPTION (Economics); MERGERS &; acquisitions; MORTGAGE loan servicing; HOME equity loans; HOUSING finance laws; CORPORATE finance; CONSUMER behavior; MORTGAGE loans; CONSTRUCTION loans
- Publication
Oxford Review of Economic Policy, 2008, Vol 24, Issue 1, p120
- ISSN
0266-903X
- Publication type
Article
- DOI
10.1093/oxrep/grn003