H'hold Mortgage Debt as Pct. of Disposable Personal Income: Q3 2002: 74.2% 2001: 72.8% 2000: 68.8% 1999: 68.4% 1998: 65.4% 1997: 64.0% SOURCE: Flow of Funds Q3 2002
Mortgage debt-service burden for Q4 2001-Q3 2002 ties the burden recorded in Q4 1990-Q3 1991 as the highest ever for four consecutive quarters, according to the Fed (http://www.federalreserve.gov/releases/housedebt/default.htm). While the burden increases, despite refis and low real rates: H'hold Net Worth as Pct. of Disposable Personal Income: Q3 2002: 486% 2001: 556% 2000: 589% 1999: 639% 1998: 588% 1997: 567% SOURCE: Flow of Funds Q3 2002 And, as Jane points out, only inflated res. r.e. prices have cushioned h'holds against deeper absolute and relative (to income) losses in net worth. Tom Schlesinger
