[PEN-L:33237] How Much Housing Credit Is Too Much?

[Finmktctr@xxxxxxx]

New from the Financial Markets Center
Flow of Funds Review & Analysis: Q3 2002
As battered investors moved their funds out of stocks and into deposits,
banks assumed the dominant role in a massive run-up of mortgage debt that has
helped maintain economic growth. But if interest rates rise or housing prices
correct, the price of this build-up could be steep for households, small
businesses, institutional investors and others. Is residential real estate
following the same path Nasdaq traced in the late '90s?  And, if so, what
should the Fed be doing about it?  Get the details in Jane D'Arista's
quarterly review of the Fed's financial statistics.

http://www.fmcenter.org/pdf/flow12-02nocov.pdf