[PEN-L:33250] Re: RE: Re: How Much Housing Credit Is Too Much?

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

We should ask Doug H., who is now on the radio.  Even that number is
cloudy since people refinance their houses to borrow for other purposes.
So, it is difficult to get a fix on mortgage debt as a separate category,
except in the sense that you mentioned -- if prices fall and people walk
away from their negative equity.

On Thu, Dec 19, 2002 at 02:02:56PM -0800, Devine, James wrote:
>
> but how much have mortgage payments risen as a percentage of personal
> disposable income? after all, interest rates have fallen and refinancing is
> the big trend these days.

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx