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Sources and uses of equity extracted from homes

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  • Alan Greenspan
  • James Kennedy

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.
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Suggested Citation

  • Alan Greenspan & James Kennedy, 2008. "Sources and uses of equity extracted from homes," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 24(1), pages 120-144, spring.
    • Handle: RePEc:oup:oxford:v:24:y:2008:i:1:p:120-144
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    File URL: http://hdl.handle.net/10.1093/oxrep/grn003
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