| Year-Over-Year Change in Real Mortgage and Consumer Debt | ||
| Quarters Before/After Onset of Recession |
Average of Previous Four Recessions* |
2001 Recession |
| -8 | 5.77% | 7.00% |
| -7 | 6.03% | 6.44% |
| -6 | 6.07% | 6.55% |
| -5 | 5.77% | 6.07% |
| -4 | 5.91% | 5.08% |
| -3 | 5.57% | 5.36% |
| -2 | 4.77% | 5.19% |
| -1 | 4.05% | 5.46% |
| 0 | 2.40% | 5.63% |
| 1 | -0.14% | 5.77% |
| 2 | -0.89% | 6.05% |
| 3 | -1.40% | 7.17% |
| 4 | -2.12% | 8.18% |
| 5 | -0.60% | 8.03% |
| 6 | -0.49% | 8.27% |
| 7 | -0.15% | 7.89% |
| 8 | 1.65% | 7.45% |
| 9 | 2.25% | 8.78% |