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Home  >  Articles  >  Mortgages & MBS  >  Evidence of a housing ATM effect? The destination of home equity extracted by US households during the recent housing boom
Evidence of a housing ATM effect? The destination of home equity extracted by US households during the recent housing boom Print

by Daniel Cooper, Federal Reserve Bank of Boston

(c) VoxEU.org

In this column, Federal Reserve Bank of Boston economist Daniel Cooper presents new evidence suggesting that the spending impact of equity extraction during the recent US housing boom was relatively small compared with the household balance sheet changes and residential investment. This finding contrasts with recent findings claiming that households consumed the vast majority of the money they extracted.

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Home  >  Articles  >  Mortgages & MBS  >  Evidence of a housing ATM effect? The destination of home equity extracted by US households during the recent housing boom