Journal Article
After the refinancing boom: will consumers scale back their spending?
Peach, Richard; Al-Haschimi, Alex; McConnell, Margaret M. (2003-12)
Concerns are rising that the recent surge in home equity withdrawal has left consumers in a weakened financial position that will, over time, prompt a retrenchment in spending. However, a look at household assets and liabilities suggests that consumers have used the withdrawn funds to restructure their balance sheets and reduce their debt service burden. As a result, households may be in a better position to spend in the years ahead.
Current Issues in Economics and Finance , Volume 9 , Issue Dec